The SaaS Destruction Map

The SaaS — as explored in the shift from SaaS to agentic service models — pocalypse of February is the market pricing in a structural transition that has been building since mid-2024.

Between January 30 and February 13, 2026, over $1 trillion in software market value was repriced. The catalyst was Anthropic’s launch of Claude Cowork and Opus 4.6 Agent Teams. But the catalyst is not the cause.

The cause is the inversion of a 25-year-old assumption: that behind every unit of software consumption sits a human. When that assumption breaks, the per-seat pricing model, the revenue engine of the entire SaaS industry, breaks with it.

I put down a framework to analyze where this is going next and how it is potentially unraveling structurally.