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In this episode of The Brainstorm, Ara Kharazian, lead economist at Ramp, joins Sam and Brett with data from 80,000 businesses and over $275 billion in annual spend. His latest research, “Cracks in the AI Thesis,” finds AI spend is extraordinarily concentrated, with 1% of businesses driving 80% of it, and that those heaviest adopters are now slowing their spend even as token volumes keep climbing. Brett pushes back hard: three months is not a trend, prices have halved over the same window, and the gap between the median firm at $15 per employee per month and the top 1% at $7,000 to $10,000 is the whole story. The debate runs from revenue quality and venture capital (VC) -backed concentration risk to where spend could actually land five years out.
Key Points From This Episode:
00:00:00 AI Spending
00:08:40 Market Dynamics
00:17:47 Revenue Quality
00:23:10 Business Value
00:27:27 AI Outlook
If you know ARK, you know we focus on long-term innovation. But that doesn’t mean we ignore breaking news. Every day, we debate the latest developments in tech and markets. Now, we’re bringing those conversations to you in “The Brainstorm,” a co-production from ARK, WOLF, and Public. Tune in weekly for our quick takes on what’s shaping innovation right now.
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