Ramp's Economist Found Cracks In The AI Thesis | The Brainstorm 156

AI investment is becoming increasingly concentrated, with the top 1% of businesses accounting for 80% of total spend. While these heavy adopters are actually increasing their token usage, their overall expenditure is beginning to plateau due to intense price competition between providers like OpenAI and Anthropic, alongside the emergence of more efficient models. This shift highlights a potential revenue quality issue, as many AI firms rely on other venture-backed companies for their growth. Meanwhile, the median firm’s AI adoption remains modest, currently averaging $15 per employee per month. As AI capabilities evolve, the technology is shifting from a strategic edge to a standard business requirement, likely leading to a future where productivity gains are achieved through more controlled, cost-effective spending rather than the hyper-growth seen during the initial stages of the AI boom.