Over the decades, fashions in Computational Linguistics have changed again and again, with major shifts in motivations, methods and applications. When digital computers first appeared, linguistic analysis adopted the new methods of information theory, which accorded well with the ideas that dominated psychology and philosophy. Then came formal language theory and the idea of AI as applied logic, in sync with the development of cognitive science. That was followed by a revival of 1950s-style empiricism—AI as applied statistics—which in turn was followed by the age of deep nets. There are signs that the climate is changing again, and we offer some thoughts about paths forward, especially for younger researchers who will soon be the leaders.