Tokens are getting more expensive
note: i’m kinda tired of the “levered beta” metaphor, i have one more topic i want to cover on this topic related to cognition, and then i’ll go back to my normal writing imagine you start a company knowing that consumers won't pay more than $20/month. fine, you think, classic vc playbook - charge at cost, sacrifice margins for growth. you've done the math on cac, ltv, all that. but here's where it gets interesting: you've seen the a16z chart showing llm costs dropping 10x every year. so you t