It's a good history lesson, but be advised his technique only worked up til 2007 before google slapped adwords which linked directly to the offer page. After that, he had to jump to another vertical, which was to promote his AdBeat product.
Not true..he started in 2007 to make big money and quit his 8-5 job he never said that he stopped he just said it was harder to direct link on google. I have seen some of his 2010 adword accounts that he used to train the beta users he logged on live and there were plenty of 5 figure days.