I have been reading a bit about third-party cookies being phased out and them being a problem for the marketers.What is it and why are they being phased out?

I'm not super experienced in this, but this is my best understanding: third-party cookies are when ads include tracking pixels that are designed to follow people around the web and learn about their user behavior. Google has decided to no longer allow them in future versions of Chrome, citing privacy concerns. Many believe the real reason is so that they can become more of a monopoly, as purchasing Google Ads would now be one of the few ways of ad targeting based on user behavior.

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