### @app-layer-value — Estimate — industry surveys and research estimates; most figures not primary-checkable
Classic software ran 75-90% gross margins because another user cost almost nothing. The source documents the flip side: a per-query 'token tax' dragging AI-native apps to ~52% gross margin, thin wrappers to ~25%, one coding product reportedly spending $0.40-0.70 of revenue on inference. Retention ~21% vs ~31% non-AI. Proprietary workflows preserve software-like margins (ServiceNow ~77.5%). App-layer figures are private estimates. My dials stay margin and retention.
- tier: Estimate (~)
- source: app-layer-value / The two dials that decide everything
- receipt: https://ticker.thevixguy.com/p/p-day-20260801-app-layer-value-src-app-layer-two-dials-conversation
- posted: 2026-08-01T19:46:51.768Z