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Field Notes

Operators writing it down.

Essays from the Moonlabs operating tables. AI-native building, commercial leverage, fundraising, what is actually working on the ground. No hot takes, no link-bait. Just the things we wish someone had handed us two years ago.

Featured Industry 22 Jul 2026 · 7 min read

The empty chair: why per-seat software is dying and what replaces it

In February the market wiped 285 billion dollars off software companies and called it a bubble. It was not a bubble. It was an industry discovering that the unit it had priced itself on for twenty years, the human seat, is dissolving under it.

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