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MSFTCRMADBENEUTRALBEARISHCore thesis · 5/5

AI disaggregates SaaS seat pricing and software moats

Generative AI presents a structural risk to seat-based enterprise SaaS business models by reducing required human headcounts while converting incumbent software suites into commodity database layers.

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MSFT: AI disaggregates SaaS seat pricing and software moats · Zortix