Shravan Narayen — Partner at IVP — on Venture with Grace, reframing the AI commoditization debate. Early concerns about model commoditization are giving way to a more nuanced view. Shravan shared why niche, workflow-driven applications can thrive — especially when they’re tightly integrated with evolving foundation models. When built well, these products actually improve as the underlying models improve. It’s a complementary relationship, not a threat — and a powerful blueprint for the future of