Alex Rampell

This is, I'll give you an example.

Like we have a company called Eve.

They sell into plaintiff attorneys.

What is the dominant software product for plaintiff attorneys?

It's called Microsoft Office, right?

Like there isn't one.

There's so many categories.

What's the dominant software for manicures?

You can pick all these areas where there's no greenfield.

There's just nothing.

But because the thing that you're selling is effectively in lieu of labor, the way that Eve works is if you're a plaintiff attorney and you get paid on contingency, you're not charging by the hour, you have a case where you will, with 100% certainty, win $1,000.

Will you take that case?

The answer is absolutely not because it's not worth your time.

So you turn down all the small ticket cases because you want the big ticket cases.

But now you have a software product that can do all the work and help you win all the small ticket cases.

Like you're absolutely going to do that.

These are the things that scale like crazy because instead of hiring somebody for $80,000 a year that I cannot hire, I can now hire this software product for $20,000 a year.

And before, I was paying $0 a year for software.

Those are all the things that are hyperscaling.

But to your point, if they don't eventually back into a system of record, like if it's something that just does outbound phone calls with an AI agent and it's a thin wrapper on OpenAI or plus 11 labs plus something else, it will attract so much competition.