Trajectory as Competitive Moat: The Shift from Software Adoption to Usage Optimization

Tomasz Tunguz argues that competitive advantage in AI SaaS has shifted from software adoption to understanding and optimizing user trajectories through applications. Trajectories—the specific paths users take through software—enable automation, optimization, vendor lock-in, and reinforcement learning. Companies that master trajectory data will define the future of work while raising critical questions about enterprise data ownership and pricing power.