Jon and Adam discuss whether the AI industry is heading for a dramatic crash or a slower deflation. Jon argues that as AI makes software cheap enough for anyone to build, SaaS companies will face relentless pricing pressure and the bubble will quietly shrink rather than burst. Adam pushes back, suggesting it's not one bubble but many smaller bubbles making up one large one, and that large platforms like HubSpot will be forced to pivot as smaller businesses become self-sufficient.

They explore the implications for software jobs, the dangers of moving too fast without review, and whether AI's rapid progress is outpacing humanity's ability to structure it responsibly.