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You just have to attend a major conference to have that question answered for you. The business is still alive and kicking. There are a lot of new players, tons of EU companies are exploding and making nice products, you just have to change your ways of promoting them.
Everyday there is success stories posted on the private forums of wannabe affiliates who started with nothing and have gone on to doing $X,XXX a day profit as a 1 or 2 man shop. There has never been more traffic so easily available than there is today, with the right mix of technology and product, you can make money.
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