Adage wonders if "folks" are just having a laugh or sharing some harsh truths about the industry. The correct answer is BOTH mate.
The hashtag, which was fueled by the blog Adland, caught on like wildfire today in the span of just a few hours, with hundreds of tweets by ad people eager to poke some fun at themselves and blow off some steam. Makes sense; ad folks usually tend to have a good sense of humor. But many people were expressing that the missives didn't feel like mere jokes and rang a bit too close to home.
Below is the storify collection of as many as I managed to grab, if you both laugh and wipe away tears, it's all good.
OH! And if you fancy you can actually buy a poster with the tweets!. Yep: The AgencyLife poster generated over at Better Nouveau.