Agents are multiplying. Context is not. There is no shortage of AI agents right now. They book meetings, write emails, summarise documents, answer questions. Most of them are capable. Most of them are also stateless. They know nothing about you when you arrive, they learn nothing when you leave, and whatever you told them in between stays with them — not you. This is the quiet problem at the centre of the current agent boom. Capability is not the bottleneck. Context is.