After 25 years of incredible highs and devastating lows, selling the company, buying it back and selling it again, opening and closing offices, and losing $20 million in business over a bad joke, Pat Fallon and Fred Senn have seen more than most in the business. Boards caught up with them to speak about how the ad game has changed.

"There is still good work and great clients. I think what's happened is that CEOs have empowered everyone to say 'no' and no one to say 'yes'. By the time you get a 'yes' the edge has been taken off. But there's opportunity. Crispin Porter + Bogusky has shown that braveness can pay off." - Pat Fallon

"The dimensions of the canvas have fundamentally changed. The traditional commercial has to be included, but the rest of the canvas is more important. That said, rigorous creativity is still the bread and butter of the industry." - Fred Senn

"There are going to be technological changes that we can't imagine happening. Technology is an open palette of creativity. I don't yearn for the old days. I love the new choices, the interactivity... The kinds of people we hire defy categorization." - Fallon

"We believe that we will be raked over the coals every once in a while; we have the staying power to ride it out. It's happened a few times and we always get through. It makes us believe in each other." - Senn