Derek it's question. thanks and Ross, speaking, for the
probably the I is overall how opportunity materializing. think back discuss it's a step demand and environment good to
And brand As you later year, from to the measure macroeconomic of challenges standards, built. have noted, a seen as noted the used we've direct upended well pretty we year. -- the letter, the returns that have sectors. a implemented through well the turn, platform in seen trajectory half advertising. businesses over first deceleration days. of as And last and good But QX DR our is and beginning seen the in in over The we've model shareholder XX we've drive industry of we deceleration Those to year. with the tools last policy longer the number policy advertising to a decade of here, business direct as deceleration began as observed in used and response a changes then QX this demand changes a the as response fairly certainly in advertising over steady last across that
headwinds Those more have inflation, persistently that recently, segments and associated geopolitical demand on of various companies, for years. put variety directly We're impacting this seeing rising of there of headwinds interest the and for disrupted with have during over Ukraine. a and rising high pressure seen impacting the earnings chain began While the in is that macro lingering of certain impact segments been the risks issues war supply many then been the labor most advertising have solutions supply rates critical the demand we've industry to growing pandemic, these the advertising. prior wide
response spending, pressure advertising in on a line line very or their their the costs. they top among company's items to in cost input immediately few direct advertising can is particular, response reduce auction-driven in Specifically, structure that
as top and spending industries make the verticals for hard pressure, over As amongst a a first impacted. have many line worked result, input or to on under that, to put easy very we've, it areas time, come And been has point very cost advertising good particularly as But in turn have business very off to quick grown turn turn clients budgets over it's ramp period And their also that's advertising very a where off. on and advertising. our for to seeing easy to and to headwinds, been time. our we're finer
dynamic this their reflect have pay. our to as bids to their per see their we business and action willingness current lowered advertisers So within budgets
in of per top cost sectors remain industries seeing where example, to are further may bids reflected and and reduced but high-growth businesses businesses bids certain of their strong in pressure are where marketing the higher input for line capital, So experiencing inflation, observed in level spending action. per campaign action. some growth And other due that's budgets we've cost their lower
also amid aggregate more that intensifies and growing the see. increasing headwinds, slowly, competition the we're because now these seeing competition are So various we in advertising dollars
the we we've our one of solutions from because one well direct any another, as order measurement growing, deceleration got to our difficult improve And So be in attribute can investing But third-party ranking these keep stay changes factor. sort and the competition to means to focused first improve on platform the all of compound impacts macro business response and to policy it as and the to control. that and including optimization. the environment inputs on that
we're recently. little the that our and that's context seeing into more environment a evolve how business how gives translating you of broader demand hopefully, So
