VC's software bear case: the future is an agent layer incumbents can't build
matt_slotnick · x · 2026-10-30
Investor mattslotnick restates his software bear case: he doesn't understand the comfort with legacy application-layer SaaS post-March 2026. His thesis is that the future of software is a new agent layer, and incumbents aren't positioned to build it. The post cites a visualized breakdown of ServiceNow's earnings as context.
Related event: Investor Predicts Traditional SaaS Collapse, Rise of Agent Layer(2 posts)→
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