Spero puts his finger on one of the least discussed cost curves in AI: agent traffic consumes infrastructure but generates none of the ad revenue or conversion that justified free tiers in the human-web era. We think he's largely right — the implicit contract of 'free content in exchange for attention' breaks when the reader is a machine. The industry is already responding with per-crawl pricing and paid agent access, and expect far more services to gate APIs behind agent-specific tiers. The open question is whether agents can ever become paying customers at scale, or whether the free web simply shrinks into walled gardens. Worth noting the speaker runs an AI-detection company, so he has a front-row seat to how machine traffic actually behaves.