In the span of weeks, AI conversations went from being tools to being storefronts. ChatGPT hit $100M in ad revenue and is opening self-serve access to any business this month. Gap enabled direct checkout inside Gemini — you can buy jeans without leaving the chat. And Perplexity got sued for allegedly sharing private conversations with ad networks all along. The AI industry's business model is crystallizing, and it looks a lot like the internet's original sin — except this time the data is far more intimate than a search query ever was.