Enterprise AI has a cost problem nobody budgeted for.
Agentic workflows burn one to two orders of magnitude more tokens than chat ever did. Token spend is becoming a first-order line item on the P&L, and most organizations have no framework for governing it. The Enterprise Token Economy exists to build that framework in public.
Who this is for: CFOs, CDAOs, CIOs, FinOps leaders, general counsel, and founders who are deploying AI agents at scale and discovering that the invoice grows faster than the value.
What you get: original frameworks for reasoning about AI agent economics and governance, including the Rediscovery Tax (the recurring cost of making an AI system relearn what it already knew), the Disclosure Tax (institutional intelligence transmitted to external LLMs, and the risk that carries), the Stale Answer Tax, Token Yield (how much of your token budget buys real work), Firm Sovereignty (controlling where your institutional intelligence compounds), and Governance by Architecture. Plus analysis of the vendor landscape, pricing shifts, and what the token economy means for enterprise buyers.
Who I am: Tony Wenzel, a three-time founder and career enterprise infrastructure executive. I am Co-Founder and CEO of Excipio, a private memory layer that sits between enterprise AI agents and the LLMs they call. The newsletter is where the thinking happens; the company is where it ships. Learn more at excipio.ai.
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