Episode 22: Why a Trillion Dollars of Market Cap Is Up for Grabs (and How AI Teams Will Win It)

Tomasz Tunguz (Theory Ventures) joins High Signal to unpack why a trillion dollars of market cap is up for grabs as AI reshapes enterprise software. He explains why workflows are now changing faster than packaged software can keep up, how “liquid software” is redefining CRM and marketing automation, and why background agents will require a new kind of “agent inbox.” We discuss the compounding errors that arise when tools are chained too finely, the hidden AI technical debt accumulating in today’s systems, and why modular stacks—mixing local and cloud models—will beat monolithic apps. The conversation also surfaces early memory architectures, what breaks when one IC manages 100 agents, and how these shifts change the real bottlenecks in scaling AI. LINKS Tomasz' Website (check out his blog!) Tomasz on LinkedIn Building effective agents by Erik Schluntz and Barry Zhang at Anthropic How we built our multi-agent research system by Anthropic Tim O'Reilly on The End of Programming As We Know It Delphina's Newsletter