If you’d like read about it you can click on either of the two links above.
I’ll just reprint one of his most salient points:
It wasn’t long ago that the agency business was the province of independent entrepreneurs. In the 1980’s Y&R was the largest agency in the U.S. with a 1 1/2% share of the US advertising market.
Today, four global holding companies control over 70% of the advertising in the U.S. We don’t believe this is a good or healthy thing.
Best of luck, Mr. Hoffman.