Sign up to save your podcasts
Or
Share SaaSpocalypse Explained: “Seat to Stack” Rotation in Agentic AI (PLTR, NET, CRWD, SNOW)
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
SaaSpocalypse Explained: “Seat to Stack” Rotation in Agentic AI (PLTR, NET, CRWD, SNOW)
The SaaSpocalypse isn’t just a selloff — it’s a full repricing of traditional SaaS as agentic AI changes how software gets bought. Michele Steele sits down with Shay Boloor to break down the “seat to stack” rotation: money isn’t necessarily leaving tech… it’s shifting from seat-based apps (think per-employee pricing) to the layers of the agentic AI stack where incremental value is accruing.
They explain why legacy SaaS may survive but gets treated as the “legacy layer,” while the market starts paying up for orchestration, security/identity, connectivity, and data plumbing. Using a clear “legacy layer test,” Shay walks through why some companies are getting punished, why Palantir is being treated differently than seat-based software, and what names he likes across the stack — including CrowdStrike and Rubrik in security, Cloudflare as a connectivity control layer, and what Snowflake and MongoDB need to prove in the data layer.
Chapters / Timestamps
00:00 - Intro: Shay on the road (NYC)
00:41 - SaaSpocalypse context + pivot to “agentic AI stack”
01:11 - “Seat to stack” rotation explained
01:29 - SaaS becomes the legacy layer; value moves up-stack
02:30 - Why seat-based pricing gets disrupted by agents
03:13 - Seat vs stack chart: Palantir vs Salesforce
03:51 - Is the rotation permanent? “Painted with one brush” phase
04:19 - Legacy layer test (Salesforce example)
05:53 - Enterprise spend crossover: SaaS vs agentic stack
06:35 - IT spend rises, but profit pools concentrate
07:34 - Why “old app” budgets get cannibalized
08:36 - Security layer: agents create an identity crisis
09:11 - Palo Alto: acquisition-driven transition risks
10:03 - Tier-one security picks: CrowdStrike, Rubrik; Zscaler debate
11:42 - Dream combo: CrowdStrike + Zscaler (framework analogy)
12:25 - “Plumbing layer” and why raw data + pipes matter
12:48 - Cloudflare as connectivity control layer
13:08 - Proof points: agent traffic doubled; RPO acceleration
14:32 - Data layer: Snowflake + MongoDB (opportunity + vulnerability)
15:23 - Snowflake AI-influenced bookings + key metrics to watch
16:22 - MongoDB: database demand + CEO change
17:12 - Wrap: portfolio re-imagining in the agentic era
Disclaimer: All opinions expressed on this show are solely the opinions of the hosts’ and guests’ and do not reflect the opinions of Stocktwits, Inc. or its affiliates. The hosts are not SEC or FINRA registered advisors or professionals. The content of this show is for educational and entertainment purposes only. Please consult with your financial advisor before making any investment decision. Read the full terms & conditions here: https://stocktwits.com/about/legal/terms/
View all episodes
By StocktwitsThe SaaSpocalypse isn’t just a selloff — it’s a full repricing of traditional SaaS as agentic AI changes how software gets bought. Michele Steele sits down with Shay Boloor to break down the “seat to stack” rotation: money isn’t necessarily leaving tech… it’s shifting from seat-based apps (think per-employee pricing) to the layers of the agentic AI stack where incremental value is accruing.
They explain why legacy SaaS may survive but gets treated as the “legacy layer,” while the market starts paying up for orchestration, security/identity, connectivity, and data plumbing. Using a clear “legacy layer test,” Shay walks through why some companies are getting punished, why Palantir is being treated differently than seat-based software, and what names he likes across the stack — including CrowdStrike and Rubrik in security, Cloudflare as a connectivity control layer, and what Snowflake and MongoDB need to prove in the data layer.
Chapters / Timestamps
00:00 - Intro: Shay on the road (NYC)
00:41 - SaaSpocalypse context + pivot to “agentic AI stack”
01:11 - “Seat to stack” rotation explained
01:29 - SaaS becomes the legacy layer; value moves up-stack
02:30 - Why seat-based pricing gets disrupted by agents
03:13 - Seat vs stack chart: Palantir vs Salesforce
03:51 - Is the rotation permanent? “Painted with one brush” phase
04:19 - Legacy layer test (Salesforce example)
05:53 - Enterprise spend crossover: SaaS vs agentic stack
06:35 - IT spend rises, but profit pools concentrate
07:34 - Why “old app” budgets get cannibalized
08:36 - Security layer: agents create an identity crisis
09:11 - Palo Alto: acquisition-driven transition risks
10:03 - Tier-one security picks: CrowdStrike, Rubrik; Zscaler debate
11:42 - Dream combo: CrowdStrike + Zscaler (framework analogy)
12:25 - “Plumbing layer” and why raw data + pipes matter
12:48 - Cloudflare as connectivity control layer
13:08 - Proof points: agent traffic doubled; RPO acceleration
14:32 - Data layer: Snowflake + MongoDB (opportunity + vulnerability)
15:23 - Snowflake AI-influenced bookings + key metrics to watch
16:22 - MongoDB: database demand + CEO change
17:12 - Wrap: portfolio re-imagining in the agentic era
Disclaimer: All opinions expressed on this show are solely the opinions of the hosts’ and guests’ and do not reflect the opinions of Stocktwits, Inc. or its affiliates. The hosts are not SEC or FINRA registered advisors or professionals. The content of this show is for educational and entertainment purposes only. Please consult with your financial advisor before making any investment decision. Read the full terms & conditions here: https://stocktwits.com/about/legal/terms/