📶 what's going to happen to SaaS

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Good morning 👋

I’ll preface this by saying nobody really knows what is going to happen to SaaS, but the next few years are going to be very entertaining for some and very painful for others.

As somebody who has spent my entire working career evaluating and investing in SaaS, I’ve been doing a lot of thinking about what all changes when we move from a world of software-as-a-service to a world of service-as-a-software.

• AI makes existing software more efficient as a co-pilot

• Expertise has moved from building software —> operating software

• As it gets smarter, it will be able to move from co-pilot to autonomous operator

• “Software” will become invisible, and core workflows will be optimized and improved automatically without the need for human involvement

• Expertise will move from operating software —> controlling agents

Greg Isenberg and others have written about this. Right now, it’s somewhat of a taboo subject, but so was the internet 30 years ago.

We’ll break down what we think in today’s piece.

Today’s highlights

• How the underlying dynamics of SaaS are changing

• The future belongs to the obsessed

• Ramp’s growth

• Visuals for vibe coding