Abstract: This week, Google abandoned its four-year policy to deprecate third-party cookies in its advertising ecosystem. Instead, it will allow consumers to opt out of cookies, and continue to promote its Privacy Sandbox as an alternative. The announcement was a surprise. But it is also clear that Google’s alternatives do not yet address both advertiser needs and privacy concerns. The end result will be a more complex market for digital advertisers. At the same time, there will be no relief from the pressure for privacy-conscious ad targeting.