Allan Stone, CEO of Intelitics, argues that FTD-led acquisition has persisted less because it works and more because replacing it is operationally expensive. The diagnosis is not particularly contested; what most operators lack is the first-party data pipeline, the attribution-to-CRM continuity, and the BI latency to act on it. Google, Meta and the major affiliate channels, which between them account for the bulk of most operators' marketing mix, are moving toward value-based