There are so many industries that exist like this. The concept of a car dealership was obviated in a few short years once car manufacturers grew enough to bear the burden of production as well as sales and service, so car dealers essentially got their business protected by law in many states. Something the horse stable owners were never able to do.

> I find it hard to believe that a multi-trillion dollar industry is a grift

Have you ever seen a real estate agent?

Yeah I have and they provided guidance and knowledge surrounding financing, bidding, regulations, etc that I did not have.

Can we build a society without the need for real estate agents? Perhaps. Would that society be better? Probably. But saying they are simply a grift is obviously untrue

Okay Homeopathy is a better example -it’s great businesses

Perhaps, people are sold on the idea that it works even if it doesn't at all, and so the people selling those ideas make lots of money. Like gambling.

It seems even more unlikely that millions of business owners would be sufficiently knowledgable in statistics to even test these things.

Remember, we're talking 'targeted advertising' here, where I imagine it is not easy for general business owners to understand whether it is more, or even as effective as 'traditional' advertising.

Easy money for advertisers just by showing some fancy irrelevant graphs.