software

“Yes, I think machine intelligence will eat software. While software is eating the world.”

“Banks in the United States, and I'm, I think all over the world, outsource their software.”

“So really hardware is this really great Trojan horse to get software into places that it can't currently exist.”

“It's just, you're talking about physical devices, and if you don't have the right hood over your over your manufacturing line, you have too much dust that settles into the devices, and all of a sudden you manufacture a thousand devices that are totally invalid…”

“I really think that we're on, we're at the beginning of a thirty-year journey that's similar to the personal computer that is going to Be based on genomics, technology, and software.”

“I actually don't think the limitation will be compute power, but the limitation will more be around the type of software that you need to build something as complex and dynamic as a person.”

“Now, I think the next generation of great software will actually embrace what the cloud enables you to do, and it won't be a business model transition. It'll be a user experience transition. And specifically, I think for that next generation, the companies tha…”

“Everyone, founders, investors, everyone needs to recognize that we're not yet at the speed of software in the hard sciences. And so nor are we at the cost.”

“Even today, only fifteen-ish percent of total software is delivered as SaaS, so we're still early in that transition”

“I think the loss ratio generally should be lower because you can underwrite a more stable business. So because valuation multiples are lower within e-commerce and retail investing, the ability to massively overvalue a business with very low revenue Who might a…”

“It like destroys these local and regional monopolies and turns them into global markets. And once you're competing at a global scale, it tends to have this sort of concentration effect. It creates a power law and it creates concentration in the head and it unl…”

“I will tell you right now, based on everything I see, we're going to stay squarely in software, because we're really, really good at it.”

“A lot of the value that has been built in software over the last 20 years has actually been in the application layer that takes these breakthroughs and just verticalizes them for a specific use case or a specific customer demographic and monetizes them.”

“Those things are not cleaned, built, maintained by software, and they never will be. There's a huge part of the world that is localized and physical and requires sweat and work.”

“The way to encapsulate would be this idea of selling the work, not the software. And that we'll move from a paradigm where you might think of it as moving from what we see right now as a copilot and moving to what I think about as a control center, where we'll…”

“What's most software? It's a database with a form on top of it for users to manage information, put information, get information out.”

“So, in general, the premise is true. I don't think we know what we move to, and I don't think software is suddenly going to become free because, you know, per user pricing just doesn't work.”

“Build for the people who are paying, not build, don't build for people that won't pay anyway, they go to another app.”

“This is the first year I'm worried. The deceleration That we saw last year. I'm worried some of it may be permanent. You could only spend so much of the global GDP on software.”

“Part of the opportunity with selling work as an AI startup is that the market for that could actually be 10 or 50 X bigger than if you were selling software. Why is that? You're selling a 95% productivity improvement instead of a 10% productivity improvement. …”

“The fastest growing business inside of McKinsey is software.”

“I think software it's high margin. You know, if we're really good at building, if we get close to customers, you ought to be able to build a profitable business, you know, from the start.”

“So many of the things that we do are done better, cheaper, faster using software. Built tools so founders can help themselves using software. It's a force multiplier. We built things into our teams. Like even the merchandising around that thank you video app. …”

“Customers care deeply about our software. That's why they picked Toast. Found it fundamentally. So maybe, maybe that's what I'll say.”

“We like to say software's going from the age of rules to the age of goals and guardrails.”

“OKRs were built for manufacturing. We don't manufacture software.”

“But if you look at most software out there today, it's very complex and it's not just technology, right? It's a lot of humans, it's customers, it's feedback loops. And I don't think we're anywhere near being able to automate those things.”

“And I think like the implication for software is that software is going to get commoditized very, very quickly as these coding agents get really, really good.”

“The businesses that succeed in a world where software costs approach zero will be built on network effects.”

“Software that has been built in the past 2030 years had the assumption, it was built kind of like we build cars. We build a car all around, and we build the entire environment, so a human goes and drives the car. Right? It requires an operator. The future is n…”

“And then the other thing it does, it just lowers the cost of lines of code, of software, right? So production, producing software. And then there's the Jervin's paradox, which says, you know, if you, the cost of a good goes down, you will actually have more de…”

“There will certainly be far more software. It's probably a fairly safe assumption. Far more technology. What differentiates it is probably how it feels and how it works. And that's very hard to copy, right?”

“This is the first time software has gotten better since the three of us met. It hasn't gotten any better since all of us met. It's the same crap.”

“Previously software used to be a moat, right? If you had, you know, invested 10 years to build a software, it's really hard to replicate that. That one moat is much weaker than before”

“The general story that we're going to vibe code everything is flat wrong, and the whole market is oversold software.”

“We're going to asymptote to 80 to 90%, I believe, for consumer spend and enterprise spend. The way we do that is by pushing the frontier, not by Cutting. The sort of discretionary spend. Of course, there's going to be, you know. Rent and food. But yes, dude, I…”

“The idea that software as a category is dead is ludicrous to me.”

“You should think that software cost of creating software is going down to zero. That's it. So and that means that like everyone will be able to generate software at any point of time. So it is a massive change. And I was a hundred percent con, you know, convic…”

“Software was the best industry of the last 2030 years. At the end of 2030 years, it accounts for four percent of the US GDP.”

“Autonomous agents, and it may take a year or longer for most enterprises to actually enable and get committed to autonomous agents, but they're going to write software faster, cheaper than any human being on the planet.”

“The time of software, how much companies are going to spend on software is going to be a hundred X for what it is today.”

“As AI become more dominant, companies will spend much more on software and much less on headcount going forward because they'll just become more efficient, and they'll gladly spend that.”

“A company like Monday, let's say we have like one billion in expenses, a company like Monday will probably spend, you know, 60, 70% of the budget on headcount and then seven, eight percent on software.”

“Nobody will want to buy The software, they're not doing the majority of the work for them.”

“There's a limit to, again, the number of software you need to build that looks like an app on your phone. There's an unlimited amount of software you need to build That looks like a background system process that's connecting different data sources, automating…”

“The logistics is a much bigger market than software. If you, for example, like a typical, like a medium sized company will spend, call it five percent of their revenue, companies spend about five, if they're physical goods companies, they'll spend like five pe…”

“Software is no longer really a moat because it can be produced instantaneously, right? Let's project out five years. That's what's going to happen. And so what moats exist? Network effects exist and data moats exist.”