1000x Software

• LLMs will 100x the number of programmers and 10x their productivity
• What does software creation look like as programming gets commoditized by LLMs?
• What does the software stack of the future look like?
• What happens to SaaS when software becomes effectively “ephemeral”?

We're at the precipice of a transformation of the valuation framework we've been using for venture-backed software for over 20 years. We are going to need to revisit all stages of valuation frameworks and the broader Pre-seed to Series A,B,C... treadmill. The implications for every stage of venture capital (and perhaps software investing) will be jarring.

The number of Software-as-a-Service businesses has exploded over the past decade, with the average 200+ person company adopting over 100 separate SaaS services. As SaaS services become more and more specialized, virtually every aspect of business has become a digital workflow. This has led to an immense flood of digital information, leading many tech pundits to refer to data as “the new oil”.