But talk to us a little bit more about from the perspective of various software vendors, and I'm sure there's a range, about what they're selling and how much is it code versus how much is it other stuff and which ones are sort of more exposed to the pure like, code generation ability?

Yeah, it's a great question, I think.

And you're 100% right.

It's producing working code.

And frankly, it has been for the last year or so.

I built my first lovable app that was working in production about about a year ago, and it's even intensified in the last three months.

Right.

So talk to us about how we're thinking about the costs inside the software

- about what they're selling and how much is it code versus how much is it other stuff, and which ones are more exposed to the pure, like, code generation ability?

Yeah, it's a great question, and you're a hundred percent right.

It's producing working code, and frankly, it has been for the last year or so.

I built my first lovable app that was working in production about, about a year ago, and it's even intensified in the last three months, right? I think when people buy software, there's a set of things that they're buying.

One thing that I think is important for everyone to understand is that open-source software has been a thing, and there have been free open-source versions of almost any software you could buy for all of recorded history.

There's actually some companies that are public that built their businesses packaging that open-source software and adding a few custom features and then support on top of it.

Because when a company's reliant on an open-source database or a company like Elastic with its Elasticsearch product, which is an infrastructure tool, and it breaks, they need someone to call, both for COIA reasons and because it can be very complex and technical, and they need to quickly understand it.

Are we gonna see big layoffs across the SaaS space in the near term, and what do you think is the timeframe for that?