The road routed around you.
Per-read pricing works for one quarter. Then every agent does the obvious thing: ingests each customer's corpus once, caches the embeddings and the permission graph, and reads from Box only on change. Your read volume falls 80%. Your bill to customers now looks like a tax on their own data, and the agents helpfully explain that to them.
A private-equity firm buys you for 0.9x revenue and sells the compliance business to a payments company that needed a records layer.
Neutrality was the asset. You sold it for a toll, and the agents did what agents do: wrote the integration that made the toll optional.
One path that gets here
A · Ship the agent as a per-seat add-onB · Reverse. Open the store to every agent and stop pretending Box AI is the front doorC · Charge the agents per read