Announcements
The Pricing Paradox: How Software’s Business Model Became Its Biggest Vulnerability
The transition to outcome-based pricing won't save software. It will reclassify it. When every AI action has a real compute cost, 80% margins become 60% — and a 60% margin business isn't software by Wall Street's standards. It is services.
Moats Built for Humans
Software moats—workflow lock-in, interface training, data silos—were built to stop humans. AI agents bypass all of it. The $300B wipeout was the market catching up to a structural shift.
SaaS Repricing: What Everyone Gets Wrong About "Software Is Dead"
AI doesn't kill software demand—it kills software scarcity. When a vertical SaaS tool's price drops from $5M to $50K, competition, not substitution, becomes the silent killer. The software industry isn't dying. It's being sorted.
The Efficiency Trap: China Won The Cost Curve, The US Owns The Cash Register
Everyone's arguing about who's winning AI. Meanwhile, OpenAI made $20 billion and lost $14 billion. Chinese startups burn cash even faster. The uncomfortable truth? Neither side knows how to make money from this yet. They're just losing it differently.
The Bifurcation Thesis: Why There Is No Middle Ground In Digital Innovation
The most broadly diffused technologies in history have produced the most concentrated returns. This is not a bug—it is the system. You cannot half-build a platform. You cannot partially create a network effect. The middle ground is a strategic dead zone.