To build a folly is essentially to do something a second time, something at an inopportune moment. That something is always the memory of something forgotten, about which we can paradoxically say "There it is again."
Follies were misunderstood, purposeless constructions. They were often only small, extravagant gestures in a garden, easily whisking off the imagination to distant lands, a sort of time capsule built to awaken the memory and induce surprise in passers-by. They marked locations, organized secondary paths in a park, or simply predicted the arrival of better times—a demarcation, a sacred spot, a mysterious trail, a hill whose tragic rocky nature begged for a tower, a party, or the arrival of summer.
“It is demonstrably true that things cannot be other than as they are. For, everything having been made for a purpose, everything is necessarily for the best purpose.” — Professor Pangloss
I’ve been looking at this chart a lot over the past few weeks.
It shows us that print ad budgets were doing just fine all the way though the first decade or more of the consumer internet. There was even a little spike upward for the Dotcom bubble. Then the financial crisis and recession of 2008/9 caused a step change down, but when the crisis was over the budgets didn’t come back. Instead, the market had been reset, and budgets have been falling steadily ever since.
You might call this the Will E Coyote effect - you’ve run off the cliff, or the cliff has disappeared from under you, but there’s a brief moment while your legs windmill in the air before gravity kicks in. It can take a while for the inevitable to happen, but then, as Lenin pointed out, you get a decade of inevitable in a week.