  We show that Lurie's model for $\infty$-operads (or more precisely a
"flagged" or "pinned" version thereof) is equivalent to the analytic monads
previously studied by Gepner, Kock, and the author, with an $\infty$-operad
$\mathcal{O}$ corresponding to the monad for $\mathcal{O}$-algebras in spaces.
In particular, the $\infty$-operad $\mathcal{O}$ is completely determined by
this monad. To prove this we study the Lawvere theories of analytic monads, and
show that these are precisely pinned $\infty$-operads in a slight (equivalent)
variant of Lurie's definition, where finite pointed sets are replaced by spans
in finite sets.
