I personally think that although in the beginning Google may pose an evident threat to affiliate networks (and in the end, will probably end up with a decent share of the market), affiliate networks will still manage to survive if they find their niche.
It's been said before, but I'll say it again: Google wins all in terms of technology and their name, but smaller affiliate networks can provide services and relate to their clients in ways that Google can't. And as service, in the end, is what affiliates really require (especially those who aren't tech savvy!)
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