$CRM - Salesforce remains deeply embedded in enterprise workflows with significant stickiness from organizational dependencies, muscle memory, and compliance requirements. Despite headless/agent trends, the underlying data and business logic in Salesforce is where the real value lies and cannot be easily replaced.
$SAP - SAP is extremely sticky because it codifies company-specific business processes and logic that took years to implement. The customization and business rules embedded in SAP make it nearly impossible to replace, as companies are effectively run by people looking at SAP screens.
$AIAGENTS - AI agents represent a major opportunity in enterprise software by creating agentic loops that collect intelligence, take action, and gather benchmark data. The biggest opportunities are in doing what incumbents aren't doing - moving from data collection to action and intelligence.
$FIGMA - Figma successfully bridged communication between design and product development functions within organizations, creating network effects. This represents a model for new enterprise software that enables cross-functional collaboration.
$ENTERPRISEAI - Enterprise AI software that bridges gaps between organizational functions and builds on top of existing systems represents the biggest opportunity. Startups should position between established players rather than competing head-on, as incumbents will only bolt AI onto existing products.
Bearish:
$MIDDLEWARE - Middleware layers like MCP are inherently unstable because no software company wants to be disintermediated and reduced to just a data layer. Companies will resist being abstracted by middleware and customers don't want to assemble scenarios from multiple unstable providers.
$HEADONCOMPETITORS - Startups attempting to compete head-on with established enterprise software categories face the hardest path. They must meet 8,000 requirements from day one while incumbents have decades of embedded business logic and customer relationships.