You're absolutely right.
HN user
kyledilger
You glossed over the part where 38/41 of your conversions are view through conversions.
A view through conversion occurs when a user sees your ad, returns to your site through another channel and then converts.
How often do you see an ad banner, don't click on it, then go back to the site because of the banner? View through conversions are a bullshit metric.
I just go to the desktop (win+d)and hit alt+f4
Microsoft seems to think so: http://www.forbes.com/sites/insertcoin/2013/07/11/microsoft-...
It's not hidden that Google makes its money through advertising.
Why? 2.9% is almost a full 1% higher than what you can get otherwise. On top of 1sc's 1% transaction cost, you're looking at 4% just for processing!
I too, watched "In Time."
That's fine, I'll replace a part-time employee with an unpaid intern to even it out.
Not all advertising is direct response (ie: looking at dollars in vs dollars out in specific advertising channels). There will always be a Coca-Cola or a P&G that care more about eyeballs than direct sales.