Software is oversold aka no one is vibe coding their payroll, notes: - Coding agents are a tremendous tool for extending the ambition of a company / product / business unit - why would you use your precious time rewriting SAAS? - The math doesn’t work - typically no more than 8-12% of enterprise spend is on software so even dramatic cost savings through replacement might result in a 3-5% net impact - Risk aperture of critical systems is enormous - these software products capture thinking as much as execution - edge cases, runtime behavior and tribal knowledge that cannot not be fully inferred by models - Not to mention the non software switching cost - how many humans interface with these systems + how much other software is intertwined - Finally Mag7 / the most sophisticated software companies in the world still spend an enormous amount on 3P software shoutout to @saumil and @obsidiancap1 who got it right