WhaleRock

“It really started to look like a three-horse race and somewhat of an oligopoly. Very similar to how the cloud market evolved, where three companies underpin the entire SaaS cloud world and have really excellent businesses.”

“Anthropic kind of was this dark horse candidate, the startup. They focused really purely on the enterprise. OpenAI had kind of won the consumer. Anthropic has something like 14 or 15 million DAUs... Claude Code has gone to almost completely agentic.”