EPISODE · Feb 12, 2026 · 2 MIN
SaaS 的黄昏与 Agent 的黎明：当软件从「工具」进化为「劳动力」
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SaaS 的黄昏与 Agent 的黎明：当软件从「工具」进化为「劳动力」：2026 年 2 月初，微软在西雅图总部经历了一个寒冷的夜晚。即便纳德拉在财报电话会议上反复强调 AI 资本支出是为了优先满足第一方产品的算力需求，华尔街依然用一张 3570 亿美元的市值蒸发罚单表达了对其「算力配给制」的不安。这不仅仅是单…
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SaaS 的黄昏与 Agent 的黎明：当软件从「工具」进化为「劳动力」
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