[shostack]

Source?

A lot of app install ads are from companies with solid revenue streams that are not startups. A lot are also for mobile games monetizing (oftentimes quite profitably) off IAP.

I feel like there is a common claim floating around that a lot of the big tech companies in the advertising industry (Google, FB, Twitter, etc.) are going to take a huge hit if something causes funding to dry up for startups.

I have yet to see anything material indicating that a notable portion of their ad revenue is driven by such companies. Are these companies spending with them? Sure. But in terms of absolute dollars and total % of revenue, my assumption would be it is a drop in the bucket compared to large established brands like CPG companies, clothing companies, auto companies, etc.