Chuck Price: Building Links at Scale ~ Risks and Opportunities
Chuck starts off with a risk/reward chart available on his deck (link below).
Automated link building: high risk, no return
If you are looking to get trapped by Penguin, that’s the fastest way to get there.
Paid link building: high risk, high return
There is a huge upside which is difficult to ignore. However for big enterprise, unless you can afford to burn your website forever, paid link building is not advised.
Low Risk, Low Return – Covered by Chuck Price
Low Risk, High Return – Covered by Loren Baker