[iav]

All billboards are by definition untargeted ads, and they are not at all only for "megaa-corps and erection pills". You can still use context to target an ad at a particular audience e.g. a hosting provider advertising on StackOverflow.

[mensetmanusman]

Billboards are per definition targeted ads to people with a car driving on that road in that location.

[thatguy0900]

By that definition every ad is targeted, unless it's on the front page of reddit or something. Every website has at least some kind of theme to target to

[mensetmanusman]

I guess that is true, ads in English are for English speakers, etc.

Which level of targeting does society want is a great question!

[yunwal]

Even the front page of Reddit is a pretty specific audience. There are definitely types of ads that I would not want to run on reddit