Most SaaS founders reach for equity by default, even for costs that debt could cover in nine months. In this episode of The AI Revolution Show, Alex Theuma sits down with Paul Becker, co-founder and CEO of re:cap, the debt-funding platform helping SaaS founders raise capital without giving up equity. Paul breaks down the emotional cost of bad funding decisions, why gross margins still matter more than AI hype, and the two moments AI genuinely changed how his own team works, including one that turned a week of junior research into two hours and a good prompt.

In this episode, we explore:

(00:29) What re:cap actually does for SaaS founders needing capital

(02:01) The accidental origin story behind re:cap

(03:21) Bootstrapped vs VC-backed: why re:cap chose venture capital

(06:11) Why most revenue-based financing competitors disappeared

(09:00) Capital efficiency vs. growth at all costs in the AI era

(11:11) Is AI killing SaaS? Paul's take on the SaaS apocalypse

(14:18) Why 90% gross margin beats 70% every time for lenders

(16:48) re:cap's own AI journey, from machine learning to LLMs

(19:44) The event prep trick that saved Paul a week of junior work

(25:02) What Capital AI does inside the re:cap platform

(29:55) Direct advice for a founder at £3M ARR taking only equity

(31:15) The emotional cost of a bad funding decision nobody asks about

Links mentioned:

Paul Becker's LinkedIn: https://www.linkedin.com/in/paulbckr/

re:cap: https://www.re-cap.com/

The AI Revolution Show is the intelligence podcast for B2B software founders navigating the platform shift, the founders building through it, and the founders already on the other side. Hosted by Alex Theuma, founder of SaaStock. Subscribe so you don't miss the next episode.

Roy Mann is the co-CEO of Monday.com, a company that's generated over $1 billion in revenue and serves 250,000 paying customers across 200+ industries. Roy shares the bold strategic pivots Monday.com is making to survive the AI platform shift. We explore why they're now letting AI agents buy seats on their platform, how they've fundamentally changed their company vision from "managing work" to "doing work," and the critical difference between adding AI features versus building AI-native products.

In this episode, we explore:

(02:09) Monday.com's unusual approach to broad market positioning

(05:41) The surprising challenges of rebranding to Monday.com

(09:33) How two co-CEOs make decisions when they disagree

(12:15) Roy's honest take on February's market crash and stock drop

(14:10) Why the per-seat SaaS model faces an existential threat

(16:13) AI agents are now signing up for Monday seats

(18:01) Roy's three waves of AI and his coding epiphany

(21:11) The mindset shift from managing work to doing work

(23:32) Build AI-native or add AI? Roy's take on the debate

(26:38) The hardest decision Roy can't delegate to anyone else

(29:37) Roy's advice for scared SaaS founders: go deep on technology

(32:05) The question investors should ask but never do

Links mentioned:

Roy Mann's LinkedIn: https://www.linkedin.com/in/manroy/

Monday.com: https://monday.com/

The AI Revolution Show is the intelligence podcast for B2B software founders navigating the platform shift, the founders building through it, and the founders already on the other side. Hosted by Alex Theuma, founder of SaaStock. Subscribe so you don't miss the next episode.

Every decade or so, the rules of software change completely. In the debut episode of The AI Revolution Show, Alex Theuma sits down with Nicolas Sharp, founder and CEO of Attio, the AI-native CRM taking on Salesforce and now running millions of automations a day for companies like Lovable. Nicolas shares why "AI is killing SaaS" is actually good news, why vibe-coding your own CRM is the wrong call, and the direct challenge every SaaS founder sitting on a few million in ARR needs to hear right now.

In this episode, we explore:

(00:47) The origin story behind Attio, from VC frustration to CRM

(03:32) Taking on Salesforce with conviction and a bit of naivety

(05:49) Why the AI-native vs. legacy distinction matters less than you think

(08:18) Should founders vibe-code their own CRM? A direct answer

(11:27) Real-world vibe coding wins inside Attio's own team

(14:14) The tools Attio actually uses: Claude Code, Lovable, Replit, v0

(14:55) Is AI killing SaaS? Nicolas's honest, unvarnished take

(18:05) The headcount question: are agents really replacing humans?

(22:13) The 500x TAM thesis and where B2B GTM is heading

(24:36) Direct advice for SaaS founders who haven't taken action yet

(29:37) The part nobody talks about: the brutality of scaling

(32:12) The "give it a week" rule for surviving founder life

Links mentioned:

Nicolas Sharp on LinkedIn: https://www.linkedin.com/in/nicolas-sharp-a92726b1/

Attio: https://attio.com

The AI Revolution Show is the intelligence podcast for B2B software founders navigating the platform shift, the founders building through it, and the founders already on the other side. Hosted by Alex Theuma, founder of SaaStock. Subscribe so you don't miss the next episode.