Chamath Palihapitiya says AI has made software IP "effectively worthless"

As seen on the 24/7 Wall St. homepage on October 10, 2026.

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Chamath Palihapitiya's claim is blunt: the intellectual property that has underpinned the valuation of enterprise software companies for decades has been rendered, in his words, effectively worthless by AI.

The argument is a direct challenge to how markets price software businesses. If replicating code no longer requires years of engineering investment, the premium multiples the sector commands rest on distribution and proprietary data.

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Palihapitiya is putting a concrete value on the moat that software IP once provided: zero.

For investors holding high-multiple software names, the question is whether the earnings power being priced in still reflects a world where code itself was the competitive barrier.

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