On software is dead: If you have an entrepreneurial mindset and believe in capitalism, you’ll figure it out. That’s what I believe.

BREAKING: Patrick Collison just told the Valley exactly where the next Stripe gets built. And it's not an AI lab. Asked what he'd build if starting from scratch, Collison pointed directly at legacy vertical software — decades-old systems still running healthcare, logistics, construction, finance. Entire industries. Still on 1990s infrastructure. Every ambitious founder is chasing foundation models right now. Collison is pointing at the opposite end of the stack. The most defensible businesses often come from the places everyone else decides are too boring to touch. Is the Valley sleeping on the biggest opportunity in software right now?

I want to record a Q&A with @nikstep and myself about Phone​.inc for the vlog, etc. Any questions you'd like us to answer about startups, go-to-market, AI coding workflows, or whatever? 😁