Tagged
#value-capture
Who keeps the money as the model layer gets cheaper.
7 essays. All writing.
- Average adoption returns less than averageSeptember 16, 2026
Ask how the AI programme is going and you get a percentage of people. The denominator is wrong, and the mathematics of the right one is unforgiving.
- You can't price the work by the seatJuly 5, 2026
Enterprises burned their 2026 AI budgets in months. The token bill made pricing a strategic question — and the per-seat model is now a subsidy.
- Europe funded the layer that gets cheaper without itJune 22, 2026
On 19 June the Commission funded a sovereign frontier model. That is the one layer that commoditizes itself. The value already moved two layers up.
- The company is the productJune 5, 2026
Sequoia's thesis on the next trillion-dollar company says software is no longer the unit of sale. The work is. Headless is the architectural shape of the bet.
- $5.5 billion to do the work consultancies do todayMay 13, 2026
On 4 May, OpenAI and Anthropic announced enterprise services joint ventures on the same day. Not the model. Not the API. The work. The middleman is the casualty.
- Efficiency is the floor, not the ceilingApril 13, 2026
PwC measured 1,217 executives across 25 sectors. 20% of companies capture 74% of the economic value of AI. The split is not budget, not stack — it is whether the company uses AI to do what it already does, or to sell what it could not before.
- In AI, closed code does not protect you. It isolates you.February 23, 2026
Anthropic's Claude Code leaked 512,000 lines via an npm source map while OpenAI shipped Codex CLI as Apache 2.0 from day one. The lesson is not about open source ideology. It is about where defensibility actually lives in this cycle.