Open-weight AI models are closing the gap on the frontier - but if the models become interchangeable, where does the real value sit?

Sean and Cameron unpack the arrival of Kimi K3, Reddit’s risky decision to license its community data to AI companies, and Arthur Sadoun’s claim that Publicis “never wanted to be an AI company”.

They then map the emerging agentic advertising stack - from context and strategy through to creative, activation and measurement and ask whether agencies will remain service businesses or become the operating systems running their clients’ marketing.

Plus: why taste becomes more important when anyone can create anything, whether Reddit’s human conversations can survive an internet of synthetic content and which part of AdTech OpenAI should acquire next.