Token Economics Is the Wrong Spreadsheet

Three times a week now an engineering leader I respect tells me their CFO wants them to justify the ROI on AI tokens. The question itself is the part I am puzzled by. A token is a raw material, the way steel is a raw material at a foundry. Nobody audits the flour invoice at the bakery. The question is not a token question. It is a measurement question, and it is being asked on the wrong floor of the building.

It is the same conversation now. I have it three times a week.