From the freely flowing rosé all day to the lavish cocktail hours and concerts at night, Cannes Lions is all about excess. “What recession?” quipped Luma Partners founder and CEO Terence Kawaja in a tweet with a graphic highlighting the many glamorous mega-yachts sponsored by ad-tech companies, publishers, and platforms that are once again a presence at the festival this year.

But even on the sunny French Riviera, with its azure beaches and palm trees, the storm clouds of a possible economic downturn have cast a shadow over conversations during the week of networking, deal-making, and creative celebration.

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