The SaaSpocalypse is here – who survives?

A thought experiment from Citrini Research has been ricocheting through tech and investor circles. It raises an uncomfortable question: What happens to SaaS if AI agents start doing the work that software seats represent?

For the past decade, SaaS has been one of the most reliable business models in tech. Sell a tool, charge per seat, expand across the organization. But if AI can automate the workflows those seats were meant to handle, the math starts to look different.

In this episode of 60/40, we unpack the “SaaSpocalypse” debate. Is this just dystopian fan fiction for tech investors or the early signs of a real structural shift in software economics?

We dig into the market reaction to the Citrini memo, why some SaaS companies may be more exposed than others, and whether AI agents could consolidate hundreds of tools into a handful of platforms.

Then we zoom out to the bigger question: If AI starts replacing not just tasks but entire categories of knowledge work, what happens to jobs, and how do the next generation of workers learn the skills needed to lead?

Creative destruction is nothing new in tech. But this time, the pace might be.

Listen here: Spotify | YouTube | Apple Podcasts

Timestamps

[00:00] SaaS is not dead, but the business model might be

[01:28] Markets, agents, and the future of jobs

[02:56] Breaking down the Citrini Report – fan fiction or fire alarm?

[06:51] Why some tech might actually be a buy right now

[09:13] Not all SaaS is created equal

[15:30] The land-and-expand model is dead. Are SaaS multiples coming back? (Spoiler: probably not)