Why "MadMen" Lived In Barbie Dream Houses And You Live In A Shit Dump

This is the third part of "How Ad Agencies Make Money". The first two parts are here and here.Advertising used to be a lucrative profession.The traditional economic model for an ad agency was this: an agency's goal was to have revenue equal 15% of billings, and profit equal 20% of revenue.So, on a hypothetical account with billings of a million dollars, the old "MadMen" financial model looked