Who Owns the Generative AI Platform?

In generative AI, those assumptions don't necessarily hold true. Across app companies we've spoken with, there's a wide range of gross margins -- as high as 90% in a few cases but more often as low as 50-60%, driven largely by the cost of model inference. Top-of-funnel growth has been amazing, but it's unclear if current customer acquisition strategies will be scalable -- we're already seeing paid acquisition efficacy and retention start to tail off. Many apps are also relatively undifferentiated, since they rely on similar underlying AI models and haven't discovered obvious network effects, or data/workflows, that are hard for competitors to duplicate.