Exclusive: Frenemies Author Ken Auletta Speaks Out on Kassan, Sorrell, Marchese, Ross, Yaccarino and More

Ken Auletta believes that "advertising is a central institution to our economy, a vital business, a reflection of free enterprise and an essential tool of democratic capitalism."  Yet it is being assaulted.  "A once comfortable agency and media business is now assailed by frenemies, companies that both compete and cooperate with them," he says.  "The argument that the subscription model will replace advertising is fallacious.  Yet, the 30-second commercial is dead; how do you do a 30-second ad on mobile screens?  Fifty-five percent of people who record programs skip the ads; they're annoyed by pre-rolls; the more advertisers know the better they can target, but then privacy issues loom large."