🎙️ podcast Analysis December 23, 2025 The a16z Show

The Death of the Prompt Box: When Agents Replace Systems of Record

IT Service Management Enterprise Software
Tickers
1 Pick
Conviction HIGH
Risk Profile 1.4/10 (MODERATE RISK)
Horizon 12-24 months
Signal Snapshot Core Theme: Enterprise Software

ServiceNow trades at 94x PE on ITSM dominance

IT veterans see fundamental change coming for first time

Agent adoption; Workflow automation; UI irrelevance

Executive Summary

A head of IT with two decades of experience told a16z partner Sarah Wang that IT support will look "completely different in five years" for the first time in his career. This represents a fundamental threat to ServiceNow's $161B market cap ITSM monopoly. The disruption mechanism is specific: AI agents can now extract intent, classify requests, map workflows, and fulfill IT requests "nearly instantaneously" versus ServiceNow's traditional ticket-based system. Sarah Wang argues this creates the fi...

Key Investment Opportunity

ServiceNow Disruption Play

Agent layer bypasses traditional ITSM systems of record, threatening ServiceNow's core business model

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