Ara Kharazian

But Figma is a very popular product, which has access to the same models that Anthropic produces and sells.

And so I haven't really understood from SaaS apocalypse people what the intuition is to suggest that, hey, we're going to see all these SaaS companies die off.

Now, I do think that there's going to be competition, right?

Like Anthropic is a worthy new entrant into a lot of different markets.

But that's a very different claim than saying that, hey, we're immediately going to start to see businesses shift over to

to these new players.

And especially because business spend can be pretty sticky.

Now, the counterpoint to that, though, is that this is one of the most dynamic markets we've seen, particularly for buying software, where month over month, you will see large incumbents be replaced by the newcomers.

Anthropic just did that with OpenAI, now the most popular model used by businesses, according to RampData.

Cursor did that with GitHub Copilot.

So I think it's, you know, something worth keeping track of.

But my main take is that SaaSpocalypse as a pronouncement has come way too soon and is typically not informed by actual business behavior.

You're saying that SaaSpocalypse is not in the data?

If we could share this chart.

I'd say quantitatively, neither aspect of SaaSpocalypse is supported by actual business spend.

Neither aspect as in it's going to change the way we buy it.

Currently, it has not in any meaningful way.

And nor has it killed off at least the companies that are frequently mentioned.

And even look at Perplexity.

People talk about Perplexity being an at-risk company.