Everyone's watching AI. It's loud, it's disruptive, and it's about half the story. In this episode, I go back to the last time this happened, when a credit crunch and a new internet landed at the same time and gave us Airbnb, Uber and streaming. Two things moved at once, which is why none of that behaviour ever went back. We're in the middle of the same thing now and it's hard to see, because you only ever read a shift clearly once it's finished. People haven't stopped spending – they've moved. And, I'm explaining why.

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