Jensen Huang Says AI Won't Kill Software. $285 Billion Says He's Missing the Point.

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My site: https://natebjones.com Full Story w/ Prompts: https://natesnewsletter.substack.com/p/200-lines-of-markdown-just-triggered?r=1z4sm5&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true ________________________________________ What's really happening when a markdown file crashes $285 billion in market value? The common story is that AI killed enterprise software—but the reality is more complicated. In this video, I share the inside scoop on why the per-seat SaaS pricing model is breaking while the data underneath remains valuable: • Why Thomson Reuters dropped 16% after Anthropic shipped 200 lines of prompts • How KPMG used AI as negotiating leverage to cut audit fees 14% • What Jensen Huang's counter-argument gets right and what it misses • Where the transition from UI-first to agentic-first architecture determines survival For knowledge workers watching this unfold, the same dynamic applies—bolting AI onto existing workflows is the individual version of what just crashed the SaaS market. Chapters 00:00 A Markdown File Crashed $285 Billion 02:31 What Anthropic Actually Shipped 04:13 The Per-Seat Pricing Model Was Already Cracking 04:58 Jensen Huang's Counter-Argument 07:19 The Print Media Parallel 08:19 Wall Street's Internally Inconsistent Thesis 13:34 KPMG's AI Negotiating Leverage 16:13 What Died vs What Survived 18:31 The Survival Path: UI-First to Agentic-First 20:23 The Engineering Resource Allocation Crisis 21:41 When Building Software Costs Zero 23:09 The Articulation Problem Subscribe for daily AI strategy and news. For deeper playbooks and analysis: https://natesnewsletter.substack.com/