On the tube today, four suits got on and proceeded to hold a business meeting in the middle of the carriage. Two of the suits were in their 50s and the other two in their late 20s. I noticed that the older suits both carried briefcases while the younger suits both carried small back-packs over one shoulder. Like a shoulder bag.
Harry tells me that the back-pack is the new briefcase and hence the briefcase is the sign that you are out of the loop, style-wise. I never knew that.
Apparently during his career as a high-flying executive, he pretty much pioneered this look.