Jaden Schaefer

And so that could be a proprietary data moat.

But basically, you want some sort of data that your competitors can't just easily knock off and clone.

Igor Ryabinsky of Altol R Capital said that basically was arguing that shallow product depth is a really red flag, a big red flag.

He said, if your differentiation mostly lives in UI and automation, that's no longer enough.

The barrier to entry is dropped, which makes building a real moat a lot harder.

I think for new companies, that means that building around, you know, true workflow ownership and a really clear understanding of the problem from day one is super, super important.

Massive code bases are not an advantage anymore, right?

Just being like, look, we have this massive code base we've worked on for a long time.

Speed, focus, adaptability, all of those things, I think I would argue are much more important.

And even pricing models are shifting a lot like these kind of I think there's a lot of software today that has like these really kind of

set in stone pricing per seat or per subscription.

These are looking a lot weaker compared to the consumption based approaches where it's like, look, we just need to use like X amount of tokens every month, which is kind of the approach that I'm doing at AI Box, where you get an account and you can just get more tokens.

The more you pay, the more tokens you get.

We have a bunch of like apps and tools you can use.

And if you use them a lot, you pay a lot.

If you use them a little, you can be on a low subscription tier and pay a little for them.

Jake Sapper, who's the general partner at Emergence Capital, he's kind of trying to frame the shift that's going on right now.

And he's like just showing you what it looks like through the lens of developer tools.

So he pointed to the contrast between Cursor and Cloud Code as kind of where things are going.

He said one owns the developer's workflow, the other just executes the task.