Episode 836 | The 5 A.I. Moats Acquirers Value Most

Episode 836 | The 5 A.I. Moats Acquirers Value Most

Author: Rob Walling June 9, 2026 Duration: 34:05
Is your SaaS actually protected from AI disruption, or are acquirers walking away without even looking? In this episode, Rob Walling talks with Einar Vollset of Discretion Capital for a front-lines SaaS M&A market report, covering how the acquisition climate has shifted since 2021, why some PE firms now require at least one AI moat before they'll even look at a deal, and a breakdown of all five moats: hardware-software coupling, two-sided network effects, communication graph embeds, proprietary data with closed feedback loops, and operational switching costs.  Topics we cover: (2:05) – State of SaaS M&A from 2020 to today (5:49) – Why 2021 was the best time to sell (7:38) – How the 2022 downturn raised the acquisition bar (8:59) – The SaaS apocalypse narrative and AI FUD (12:26) – Why bootstrappers should care about exit markets (15:52) – AI moat #1: Hardware-software coupling (17:38) – AI moat #2: Marketplace scale and two-sided network effects  (20:05) – AI moat #3: Communication graph and relationship embed (21:27) – AI moat #4: Proprietary data with closed feedback loops (23:20) – AI moat #5: Operational embed and switching costs (27:28) – Some PE firms now require at least one moat (29:23) – AI-native SaaS faces even higher hurdles Links from the show: MicroConf Connect Next Live Session: Jim Zarkadas on User-Friendly Onboarding (June 17)  TinySeed MicroConf YouTube The SaaS Playbook Discretion Capital M&A Guide Fiscal.ai  DealForma BuiltWith ZyraTalk EverCommerce  Einar Vollset (@einarvollset) | X If you have questions about starting or scaling a software business that you'd like for us to cover, please submit your question for an upcoming episode. We'd love to hear from you! Subscribe & Review: iTunes | Spotify

Rob Walling hosts Startups For the Rest of Us, a long-running conversation focused squarely on the realities of building a company without massive venture funding. This isn't about Silicon Valley fairy tales; it's a practical, ground-level view of entrepreneurship. Each episode delves into the specific journeys of founders who are starting, acquiring, or growing their SaaS businesses, emphasizing the path of bootstrapping. You'll hear the unvarnished details-the strategic decisions, the unexpected obstacles, and the hard-won victories that define the daily life of a founder. The discussions are built on real stories, offering tangible lessons from both struggle and success. For anyone who has ever felt that the typical startup narrative doesn't reflect their own resource-constrained reality, this podcast provides a necessary and relatable perspective. It’s a deep resource for actionable advice and genuine camaraderie, connecting you with the experiences of those navigating the same challenging terrain. Tune in for honest conversations that cut through the hype and focus on building sustainable businesses.
Author: Language: en-us Episodes: 50

Startups For the Rest of Us
Podcast Episodes
Episode 818 | What Does It Take to Be Successful? with Russ Walling [not-audio_url] [/not-audio_url]

Duration: 55:41
Is perfectionism quietly sabotaging your career or startup dreams? In this episode, Rob Walling talks with his brother, Russ Walling, about the mindset and habits that shape long-term success from overcoming perfectionis…
Episode 817 | Bootstrapping in the Age of AI with Jason Cohen [not-audio_url] [/not-audio_url]

Duration: 53:30
How would a 2x unicorn founder build his next startup with AI? In this episode, Rob Walling sits down with Jason Cohen, founder of SmartBear and WP Engine, to talk about building billion-dollar businesses, the future of…
Episode 813 | SaaS Predictions for 2026 (+ Reflections on 2025) [not-audio_url] [/not-audio_url]

Duration: 28:06
How will AI, SEO, and market shifts change SaaS next year? In this solo episode, Rob Walling revisits his predictions for 2025, what he got right, what he totally missed and shares nine new predictions for 2026. He refle…
Episode 812 | The 2025 State of TinySeed [not-audio_url] [/not-audio_url]

Duration: 28:46
After funding 210+ B2B SaaS companies, what patterns have emerged? In this episode, Rob Walling shares the 2025 State of TinySeed, from its first fund in 2018 to a global portfolio of over 210 B2B SaaS companies. He refl…