Tired of ads interrupting your favorite show.

Good news.

Ad-free listening on Amazon music is included with your Prime membership.

Just head to Amazon.co. UK slash Ad Free Fitness

to catch up on the latest episodes.

Without the ads.

Enjoy thousands of A-C-Coss shows ad-free for prime subscribers.

Some shows may have ads.

Hello, I'm Simon Long International Editor at The Economist and this is Money Talks on Economist coming up on today's show, the declining popularity of the first-class seat on airlines.

Many passengers, many busy business executives who would have gone on first-class flights are now going on these private jet flights.

And Jim Collins, author of the bestseller Good to Great, explains the Flywheel principle.

It's an underlying logic, and the key is the understanding of what creates the

inevitable momentum.

But first, Robin Lee, the boss of Baidu, China's leading online search firm, has written a New

Year letter to rally staff warning that winter is coming.

No he wasn't as far as we know quoting from Game of Thrones.

He was warning that the lavish financing that China's startups have come to expect has dried up.

Reports of big job cuts have multiplied, including at the country's technology giants.

Some have slashed bonuses, travel expenses, and generous housing allowances.

Austerity measures of the new order of the day.

To discuss this new freeze, I'm joined by Stephanie Studer, the Economist Senior China

Business Correspondent. Hello Stephanie. Hello Simon. Studer, the economist's senior China business correspondent.

...