Elena Burger

Hello, everyone, and welcome to Monitoring the Situation.

I am here with Joe Schmidt, the fourth.

Joe is a... Thank you for making that delineation.

I appreciate it.

Joe is...

A partner on the enterprise team at A16C.

And we are here to actually, I think, first just answer a big important question, which is why has the enterprise team been writing so many obituaries lately?

And what have these eulogies been for?

Yeah, so the SaaS products of yore can't get their juicy PE ratios.

They can't bank on incremental revenue and crazy operating leverage anymore.

They actually have to do real work.

And, you know, like...

either pivot and adopt AI or get out-competed by the insurgents who are.

So with that in mind, I feel like we should pull up your piece and chat through it.

Yeah, happy to.

So...

Let's just get into it.

It's called Workday's Last Workday.

We published it on a16z.news this morning.

And you opened the piece by calling Workday the most important and least loved product in enterprise software.