Building a Backlink Strategy Post Google Algorithm Update

Given the recent changes in Google's algorithm, how should I approach building a backlink strategy? What high-quality link-building methods are recommended?

links from indexed pages with traffic, on sites that have been ranking for years, is the only way to go. Yes, these links might cost you a fortune, but they're the only links worth getting nowadays, so blame it on google for shitting on everything that's free and easy. Corporate greed knows no limits...