Insights
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3 articles
Artificial intelligence
Most durable value from applied AI accrues to companies with proprietary data and repeatable workflows, not to those buying capability off the shelf.
ELP Ventures · 2 April 2026
Artificial intelligence
Inference costs sit in cost of revenue, not research and development. A framework for reading gross margin in AI-enabled software.
ELP Ventures · 19 March 2026
Artificial intelligence
Where operating history is captured, structured, and legally owned, it compounds. Where it is licensed, it rents.
ELP Ventures · 5 March 2026