I started with my own theory about internal leverage. Then I read Howe’s blog and forced myself to challenge it. Looking at Cursor, Bild AI, and the moves by Walmart and JPMorgan, the pattern is clear. Howe is right that abundance means more software everywhere.

My earlier view was right that selling software gets weaker as a moat. The reconciliation is the barbell. Platforms and primitives on one side, private internal systems on the other, and a middle that only survives if it is extremely vertical and valuable.

For developers and founders, the lesson is straightforward. Pick an end of the barbell. Build at the platform layer or build internal leverage. If you want to sell SaaS, make sure it is vertical, deeply integrated, and ROI-proven. Everything else will get commoditized.