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The "next generation" started and went out of business in 1997. There were a whole host of sites that uses this exact model in the late 90s. All of them failed. I'm guessing it's because the traffic the advertisers get doesn't convert to very many sales.
I have a pre-budget of 200$ so it can`t fail. Join with confidence! And don`t worry about where I get my advertisers from, after all you`ll get paid. Who care`s if I`m on - balance. :)
Yeah, but that the half a cent doesn't add up to the energy expended in looking at the website!
What's stopping people from scripting up clickspam? People already do this to competitors. Imagine what they'd do if there was direct profit.

And what's stopping advertisers from noticing this fundamental flaw?