Mark, new programs that succeed these days are rarer than hen's teeth. If you actually saw the numbers behind many of these high profile programs, you would be very disappointed with that you see. The numbers just are not there at the levels you would think they should be.
Many programs report "webmaster rank". I am amazed where for some programs, a single signup in a period would make you a top 100 webmaster. That tells me that many of these programs aren't turning anywhere near the coin that they claim on the boards.
So many programs have come and gone in the last few years, bought out by others, merged, sites gone... yadda,yadda... even with a really wonderful business plan, adult is now the same crap shoot that any other business would be - and the investment really required to make it go is about the same as opening a fast food franchise or whatever.
The chunks of gold has been mined out a long time ago. The glod flecks are still around, and occasionally you might find a vein of gold now and again... but we are now more in the heavy lifting and consolidation phase of the business, not the "newbie strikes it rich" phase, IMHO.
Alex
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