Jason Hall

That's my question.

I think it's a little bit nuanced, but I do think broadly it's overdone.

I think the weaker companies...

are gonna get out-competed by stronger companies that have better products, wonderful leadership, deep culture, built on innovation, and always running hard to get to the goal before your competitors do.

But I don't think that AI is some panacea that turns steel companies into software builders.

Companies want to utilize AI tools, but they want to utilize those AI tools to help them do whatever their business is better.

Not rebuild every software wheel just because AI lets them do it.

I have a really over-the-top analogy that I want to give.

We've seen the agricultural industry become massively productive with automation.

We're seeing AI as a thing that is starting to drive even more value and unlocking productivity and getting more productivity out of every arable acre.

But we don't see McDonald's moving into farming just because technology is making farming more automated.

They're letting the farmers leverage those things to deliver better agricultural products.

Now, I think most enterprises are still going to go to enterprise software experts in the same way.

Now, with that said, yes, AI is probably going to be edge cases where businesses are using AI to build things that they're not necessarily using software companies to build.

I also think that we could see some seat-based applications.

SaaS companies feel pain, particularly as we see AI play out and affect white-collar jobs.

Now, we just talked about a company that's a usage-based model.

They're built to win if their product is a winning product.

But I think these things are a far cry from every Fortune 1000 company firing Salesforce because they can build their own CRM with Claude.

Yeah, I think that's right.