Dazi AI Watch 010: Who Gets Pushed Out, and Who Keeps Taxing the AI Stack?

As the AI cycle moves deeper, the key question is no longer who has an AI story, but who can survive depreciation, cost deflation, and platform upgrades — and who can keep collecting tolls as the industry scales. This episode breaks the AI stack into four layers: the players most likely to be pushed out, the most overvalued layer where cash flow still lags the story, the platform giants most likely to survive by using legacy profits and workflow control, and the system-level gatekeepers that continue taxing every upgrade cycle.Price is the result. Variables define the stage. Don’t predict price. Observe the cycle.