[RawAlex]

I think it is more a question of massively overpaying for new customers. It's the same issue that has just hit Verizon, subsidizing iphone sales to the point of generating a big loss.

FFN continues to have payouts to affiliates that are about on par with the direct income generated by those same users. They had this when Lars was over there as well, which is why their were buying all sorts of ad placements and keyword popover buys on the cheap, hoping to lower their costs of getting new customers. But at the time of the original attempt to go public, they were paying out something like $125 to get a customer that was paying them slightly less than that. You don't have to be too brilliant to realize that isn't making money.