In time O(n) you can use O(n) cells on a tape, but there are O(2^n) possible configurations of symbols on a tape of length n (for an alphabet with 2 symbols), so you can do so much more with n space than with n time.
Something we all intuitively expected but someone finally figured out an obscure way to prove it.
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This is a really roundabout article that takes a meandering path to a total bombshell in the field of complexity theory. Sorry for spoiling but uhhh, you'd expect an article about P == PSPACE would get to the point faster....