consumer AI won’t be won by wrapping the smartest model - instead I'm convinced it'll have the following chracteristics: - AI native functionality reinvents the UX enough to move the needle - deliver enough new AI UX with "good enough" models - ARPU reliably outruns inference cost (as the latter goes down) - retention ends up stronger than non-AI incumbents - creates margin to fund distribution channels Thus, am particularly bullish about high ARPU consumer sectors (particularly with whale…