20VC: Monday.com CEO on Is SaaS Dead: Will Everything Be Vibe Coded | Will Systems of Record Become Valueless Databases in an Agentic World | Will LLMs Own the Value in the Application Layer with Eran Zinman

**Eran Zinman** (0:00)
Some days, I feel like I was ran over by a truck, hit by a plane, and barbecued, and it's just 11 a.m. What the market is saying to me is, the company is worth zero. Okay, fine. Now, I need to build, you know, screw it. I'm gonna go all in. I'm gonna go all in. It's the biggest vivid moment for us in the history of the company. Nobody will wanna buy software than not doing the majority of the work for them. We're changing everything, basically. The TEM of software, how much company is it gonna spend on software, is gonna be 100x for what it is today.

**Harry Stebbings** (0:35)
The SaaSpocalypse is real, and no one has felt it more than monday.com. With close to 1.3 billion in revenue, they're valued today at just 3.9 billion dollars in the public markets, one of the hardest hit. Today, we sit down with Eran Zinman to answer one question. In a world of agents, will Monday become a valueless database, or does it have a future in an agent economy? But before we dive into the show today, as an investor, I'm always on the lookout for tools that really transform how I work, tools that don't just save time, but fundamentally change how I uncover insights. That's exactly what AlphaSense does. With the acquisition of Tegus, AlphaSense is now the ultimate research platform built for professionals who need insights they can trust, fast. I've used Tegus before for company deep dives right here on the podcast. It's been an incredible resource for expert insights. But now with AlphaSense leading the way, it combines those insights with premium content, top broker research and cutting edge generative AI. The result? A platform that works like a supercharged junior analyst, delivering trusted insights and analysis on demand. AlphaSense has completely reimagined fundamental research, helping you uncover opportunities from perspectives you didn't even know how they existed. It's faster, it's smarter and it's built to give you the edge in every decision you make. Twenty VC listeners don't miss your chance to try AlphaSense for free. Visit alphasense.com/twozero to unlock your trial. That's alphasense.com/twozero.
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**Eran Zinman** (4:29)
Thanks for having me, Harry. It's great to be here again.

**Harry Stebbings** (4:31)
By the way, if anyone is listening, you should be watching because Eran looks younger than he did last time. It's extraordinary, the volume that your hair has today, dude. But I wanted to start. Thank you. This is not how I expected the show to go. Clearly, we are lacking incredible discipline in our research. I wanted to start on communication actually, because we see stock price respectfully in the dumps, but actual fundamentals maybe are different. So what is the stock market not seeing that you think they should be seeing?