The first wave of AI SDRs treated email infrastructure as a commodity.
They raised at sky-high valuations, plastered cities with billboards, and signed hundreds of logos in a year. Each ships the same architecture: a generic LLM wrapper that drafts emails, plumbed into a rented SMTP relay (shared third-party pools, sometimes a tiny in-house pool of warmup IPs). The bet was that drafting was the hard part. It wasn't. Drafting is now a feature of a $20/mo LLM API key. Distribution — landing in the inbox, day after day, without getting flagged — is the part nobody solved.