Hardware enablers—AirPods and smart speakers—are colliding with changes in consumer behavior. On top of that, screen fatigue is drumming up demand for screen-less content. This confluence of factors is creating huge demand for “water”—for audio content and audio-first social networks.

In recent years, we’ve seen the rise of spatial audio, Apple AirPods, digital walkie talkies, audio-based meditation and mindfulness services like Headspace (I’m an investor), and social audio experiences like Discord and Clubhouse.

The jury is still out on whether Clubhouse is the next decacorn or the next Quibi, but one thing is certain: the app introduced millions of consumers to the world of social audio, which will surely drive greater innovation in the space.