Either I misunderstand something (which is unlikely in this case), or his formula for CPM is wrong.

Correct: CPM = Clickthrough Rate x Price Per Click x 1000

Example: If you have CTR or 2% and each click generates $0.40, you have CPM of 0.40 x 0.02 x 1000 = $8.

> Engagement is inversely correlated with CTRs

Which is exactly why more CPA ad systems are needed. That's the best way I see to allow everyone to get their interests in line.

Or at least CPC.

dude i am rich now!