Martin Casado

But I don't think it's for this.

I don't really buy into this reason that all the SaaS categories are going to disappear and be replaced with five-coded software.

I think there will be some, but I think the bigger threat is simply new companies coming along.

It is just so much easier to write software now that AI-native companies will just zoom and catch up

to the established incumbents and maybe be better in some ways.

No, it's like X risk.

You know, some new way of doing what you do comes along that's dramatically better.

And this will happen to some companies.

Yeah, it's not even really in the public company data.

It's when you start to see, like, less than one net dollar retention, then, you know, it's come.

So we have, you know, in our particular case, we have been

trying ourselves to use AIs to build data replication connectors, which is the core of what we do for years since GPT-3.

And

They continue to improve in terms of what they can put out.

They still do not discover this long tail of complexity.

It really surprises people how difficult it is just to make an accurate copy of a system and keep it up to date.

And now we are actually starting to see new capabilities inside Fivetran to push the bounds of quality, particularly quality, even further, like completeness of coverage of the sources and the correctness of replication.

You can imagine how you can use AIs to do that more comprehensively than you ever could with human beings.

And so I think...

in addition to the sort of, you know, the AI threat is getting closer, but it's still, I think, a ways away from what we do.