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
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
The Twenty Minute VC
4.4 • 693 Ratings
🗓️ 2 March 2026
⏱️ 70 minutes
🧾️ Download transcript
Summary
Monday has been hit harder than almost any other public SaaS company. With $1.3BN in ARR, the company is valued at just $3.8BN; a more than 60% fall since IPO. Today, Eran Zinman, Monday's CEO joins Harry Stebbings in the hotseat to walkthrough six of the biggest threats to Monday's business; what is real, what is not and what are the unknowns.
AGENDA:
05:47 Six Threats Monday Faces Today
07:04 Threat #1: Vibe Coding: Will Companies Vibe Code Everything
11:24 Threat #2: Will OpenAI and Anthropic Own the Application Layer
13:52 Threat #3: Will Agents Turn Monday and Salesforce into a Database
18:43 Why is Monday Adding 15% Headcount When Everyone is Cutting?
21:40 How Monday is Using AI to be More Efficient
27:49 What Happens to Seat Pricing? What Comes Next?
34:17 What No One Sees About Enterprise AI Adoption
37:13 How Google AI Overview Smashed 10% of our Customer Acquisition
38:49 If Bullish on Monday, Why Has Eran Not Bought More Stock…
40:38 How to Manage Internal Morale When Stock is Down 60%
44:08 Do Private Companies Have Advantages Public Companies Do Not Have
47:28 With $1.5BN in Cash, Why is Eran Not Buying More Companies…
53:30 What is the Most Offensive Bet Eran Would Like to Take?
57:13 Quickfire: Marriage, Biggest Short, Mentors
Transcript
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| 0:00.0 | Some days I feel like I was ran over by a truck, hit by a plane, and barbecued, and it's |
| 0:06.5 | just 11 a.m. What the market is saying to me is the company is worth zero. Okay, fine. |
| 0:12.6 | Now I need to build. You know, screw it. I'm going to go all in. I'm going to go all in. |
| 0:18.0 | It's the biggest David moment for us in the history of the company. |
| 0:21.7 | Nobody will want to buy software than not doing the majority of the work for them. |
| 0:26.2 | We're changing everything, basically. |
| 0:28.7 | The term of software, how much companies are going to spend on software, |
| 0:32.3 | is going to be 100x for what it is today. |
| 0:34.7 | The SaaSpocalypse is real, and no one has felt it more than Monday.com. |
| 0:40.1 | With close to 1.3 billion in revenue, their value today at just $3.9 billion in the public |
| 0:46.7 | markets, one of the hardest hit. Today, we sit down with Aaron Zinman to answer one question. |
| 0:53.2 | In a world of agents, will Monday become a |
| 0:56.2 | valueless database or does it have a future in an agent economy? But before we dive into the show today, |
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