So  I live in the New York  City area (Jersey City,NJ) and work  in the City.  So I  really wanted to go to Affiliate  Summit East this year.  Well,  I procrastinated and thought I could  get a ticket at the front  desk for cheaper (Not!).  Well,  I showed up yesterday afternoon to  look around.  And was tempted  to try and sneak in.   But the ASE staff was good.   So I got someone to  get Luke for me.  And  let me tell you, it was  great!  Luke is a humble  guy, not boastful or flashy.   We got a bite to eat  at the hotel restaurant and he  sat there and answered by bombardment  of questions far longer than he  should have!  Thank you.    
Here is a bit of  what I gleaned. 
Question: From your  experience and observation, What do affiliates  do that lead to failure?   
1.  They do not choose  ONE method/
traffic source and master it.    He talked about how  affiliates try to use too many  ways of creating traffic; 
Zeropark, Bing,  Adwords, Facebook, etc.  Having focus  is the key to success.
2.   They Do Not budget.  If  you have $1,000 budget, choose an  offer within your budget and launch