We revisit the problem of interactions of higher-spin fields in flat space. We argue that all no-go theorems can be avoided by the light-cone approach, which results in more interaction vertices as compared to the usual covariant approaches. It is stressed that there exist two-derivative gravitational couplings of higher-spin fields. We show that some reincarnation of the equivalence principle still holds for higher-spin fields—the strength of gravitational interaction does not depend on spin. Moreover, it follows from the results by Metsaev that there exists a complete chiral higher-spin theory in four dimensions. We give a simple derivation of this theory and show that the four-point scattering amplitude vanishes. Also, we reconstruct the quartic vertex of the scalar field in the unitary higher-spin theory, which turns out to be perturbatively local.