As of Oct 2026, AI agents are relatively well understood among the technical community and it seems like "every" AI engineer is building agent (see the famous YC meme). And I am interested in discussing the business side of AI agents.
I am personally running two agent products - one cloud specialist finance agent (commercial product), and a desktop agent harness most for myself and my surroundings. That's why I thought about this subject for quite a well.
In general, I am thinking about the market in three categories:
-Generalist agents for the enterprise market, we have the big harness: codex/chatgpt work, claude code/claude, grok bot, and copilot. OpenAI, Anthropic and XAI (cursor) all own their models. Microsoft is the exception, that has to pay other providers for the models (I am not counting the small models trained by MS, they are not competitive).
-Specialist agents for the enterprise market, inside, there are two categories: 1. Startups building specialists agents, like legora for legal, which just raised half billion USD at 8Bn valuation. 2. Agents built on top of the existing platforms like Box agent, SAP's Jule, Opentext's aviator, etc. Most of them don't own the model layer, at least not any competitive ones.
-Consumer agent, chatgpt and muse, both have wide distribution, both own their models
I think effectively, it's really hard to compete with the big harnesses: codex/chatgpt, claude code/claude, muse, grokbot. They own the models and they are subsidizing their plans heavily.
200 USD plan from Claude will get you 11K equivalent API usage (Opus 5.5) from Anthropic. 20 USD plan will get you 500 USD (opus 5.5) usage. There is no way any startup can compete on this while themselves have to pay the API to the labs.
We see this from Lovable which is targeting mainly the prosumer markets + enterprises. They optimize the max models costs through routing. So is Legora. What's more, customers don't get the best models for their work. You can clearly see this if you use Lovable.
This also has an impact on the unit economics and finance. It's reported that Legora is losing money on per customer level - VCs are financing the costs, even if their customers don't get to use the frontier models.
I think for users, especially power users, there is no question, just go with the big labs. You get the max value while they are still subsidising their plan. Once I told a customer just go and use Claude 200 USD for their legal due diligence, with 200 USD, you can audit thousands of contracts several times before you engage the due diligence lawyers in a month.
For people who want to make a business out of agents, this is both interesting and challenging. We are still at the very early stage, most of the economy doesn't know what's possible, what's frontier, what the best models can do. Both Lovable and Legora are benefiting the information asymmetry and build their business around the workflows to have customers lock-in. They both demonstrated that it can work despite the heavy subsidy of the big labs. On the other hands, themselves are heavily funded by the VCs.
What's your take? How would you guys compete?