One of the arcs of technology over the past ~25 years has been the barbell-ification of industries – e.g., you're either the NYTimes or you're an individual on Substack. Being a regional newspaper is hard. I think the same stratification will happen in SaaS – there'll be a small number of core systems (like @Rippling) and then there'll be bespoke software for each company or even each individual that ties these systems together. I think being in the middle is going to be hard.