Feb
27
“Until recently everyone seemed to blithely assume that Google is immune to an ad spending pullback because its ads are performance based. Wrong. Blodget points out the 800lb gorilla in the room, via an ad industry source. Google makes its money selling CPC ads not CPA ads. If the average amount spent per click drops, because people spend less, then the value per click drops and therefore so does the CPC revenue.”
David Galbraith