If AI can rebuild any software, what's still worth paying for?
What investors have said about this, week by week, in Sublimnl Current.
A lot of investors argued that code itself is losing value. Naval Ravikant (@naval) said the models themselves may be the last real moat. Matthew Berman (@MatthewBerman) predicted software heads toward free, with value moving to things like compliance and security. Gale Wilkinson (@galeforcevc) noticed AI-native firms offering audit, tax and fund admin at about half the usual price.
There was pushback too. Angela Strange (@astrange) said deploying AI inside a company is as much about people and workflows as technology. Guy Wuollet (@guywuolletjr) asked where the network-effect businesses are. A Harry Stebbings clip with Dev Ittycheria argued that durable companies build a data loop competitors can't copy.
If you want to join in: Share what's genuinely hard to copy in your category (data, distribution, compliance, deployment) and invite pushback. Leave your product out of it.