George Frazier

And in particular, like we're seeing a lot of changes, how vendors view their own data, how the big labs use data.

So just talk a bit about what the industry is.

I just want to tease this apart because I think there's a lot of confusion on what exactly is going on, right?

So this is locking down access to the data that an agent would use instead of an app, right?

It's not access to data because you're going to train your own models.

So the concern is my SaaS app has less value as an interface because now the agents can access the data directly and basically perform the same functions the SaaS app was before.

Is that the concern?

I think there are many concerns.

Can you just strawman the set of concerns?

Because this is one of the biggest reactions I've seen in the industry in a very long time, and I'm kind of trying to come to grips with what the actual worry is.

I mean, it seems like, I mean, arguably...

I'm going to keep poking on this because I still think it's not a real concern.

So let me make another argument.

So let's say you had opened up all your APIs in the 90s, which is the case.

Like, why couldn't I just write a procedural app, which is my own version of the SaaS, and therefore also disintermediate your SaaS?

Like, why are agents somehow different than me just writing my own software or my own dashboard?

No, I do.

I just want to let you know, I am

old enough to remember these discussions in the 90s.

The rhetoric was exactly the same.