Terminal Value

Nik Singh
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Terminal Value is a market landscape podcast that breaks down where value accrues in AI, software, and technology markets through deep dives with founders, operators, and investors.

  1. 1d ago

    Shopify for Travel Rewards | John Taylor Garner, Odynn

    In this episode of Terminal Value, I'm joined by John Taylor Garner, founder and CEO of Odynn, an AI-native travel and loyalty infrastructure company that has raised over $9M in seed funding from Bonfire Ventures and Fiat Ventures, to discuss why points and miles behave less like a rewards program and more like a private economy, why the real product in travel is the decision layer rather than the booking, and how Odynn turns a multimillion-dollar embedded-travel build into something a late-seed startup can afford.   We cover how the fragmented travel rewards stack works today, why Expedia and Booking quietly control most of embedded travel, why points and miles only ever depreciate, how Odynn acts as a "Shopify for travel rewards" that compares dollars, points, and miles in one place, how the company prices and earns alongside its bank customers, what it takes to sell to banks as a young startup, and how an agentic AI concierge could turn travel from something you search into something you delegate.   0:00 Hook: Airlines don't make money flying planes 0:45 Intro to John Taylor Garner and Odynn 1:35 How the travel rewards stack works today 3:25 Banks, OTAs, and the Expedia/Booking duopoly 5:55 Where it breaks down for the consumer 8:10 Why points and miles only lose value 10:35 What Odynn is and how the product works 16:15 Pricing, commissions, and supply economics 20:30 Customers, competition, and the $60K disruption 25:00 Winning big banks and proving longevity 30:00 The AI concierge and the future of loyalty 36:00 Building AI-native: agents, engineers, and OpEx 41:55 Closing takeaways

    Shopify for Travel Rewards | John Taylor Garner, Odynn

  2. Jul 23

    Security Just Went Autonomous | Curt Aubley & Stephen Collins, Sevii

    In this episode of Terminal Value, I'm joined by Curt Aubley, co-founder and CEO of Sevii, and Stephen Collins, co-founder and CTO. Sevii is building autonomous defense and remediation for security operations, backed by Overline and BMW i Ventures. We discuss why the SOC was built for a slower world, what separates autonomous remediation from automated playbooks, and whether companies are culturally ready to let AI take real security actions. We cover the legacy SOC workflow from alert to remediation and why it hands attackers a 15-minute head start, how Sevii's agentic "cyber warriors" go from detection to reported remediation in 2 to 15 minutes across the tools you already own, why per-asset licensing keeps security budgets predictable, Sevii's rule of only using AI where it's necessary, and why the hardest competition may be cultural trust rather than another vendor. 0:00 Hook: Why attackers get a 15-minute head start 0:40 Intro to Curt Aubley, Stephen Collins, and Sevii 1:26 How legacy SOC workflows reach remediation 4:35 Where speed, scale, and economics break the SOC 7:00 Why existing security tools still leave a bottleneck 9:29 What Sevii's autonomous remediation platform does 15:02 How Sevii moves from detection to remediation 19:31 How cyber warriors change SOC staffing 24:00 Customer control, MDR limits, and AI cost strategy 31:20 Sevii's ICP, buyer, and forward-deployed model 37:33 Asset-based pricing and predictable budgets 40:53 Competition, culture, and the future of autonomous defense 48:35 Closing takeaways

    Security Just Went Autonomous | Curt Aubley & Stephen Collins, Sevii

  3. Jul 16

    The Decision Layer Is Missing | Tushar Makija, Team Ohana

    In this episode of Terminal Value, I'm joined by Tushar Makija, co-founder and CEO of Team Ohana, to discuss why headcount planning breaks the moment the CFO's model is locked, how AI agents are becoming the orchestration layer between HR and Finance, and why the real system of record should capture decisions, not just transactions. We cover why a late hire is deferred capital, how a sales leader can plan ten hires from a single Slack prompt, why HR and Finance never demand better tools, human capital versus "agentic capital," and Tushar's "accelerate or die" case for moving now.

    The Decision Layer Is Missing | Tushar Makija, Team Ohana

  4. Jul 9

    AI Is Killing The Seat | Manish Choudhary, Flexprice

    In this episode of Terminal Value, I'm joined by Manish Choudhary, co-founder and CEO of Flexprice, an open-source billing and metering platform for AI and API-first companies, to discuss why AI is breaking the old seat-based SaaS model, how pricing is shifting toward usage and outcomes, and why billing is starting to look less like admin software and more like core infrastructure. We cover how software pricing evolved from one-time licenses to seats to usage, why billing becomes an infrastructure problem as companies move to consumption-based models, a real customer example that cut billing inquiries by 80% and surfaced hidden revenue leaks, how Flexprice lets finance teams change pricing without engineering work, and why open source may be a real wedge into the market.

    AI Is Killing The Seat | Manish Choudhary, Flexprice

  5. Jul 2

    Your Bank Account Is Becoming a Budgeting Engine | Gentry Davies, Crew

    In this episode of Terminal Value, I’m joined by Gentry Davies, co-founder and CEO of Crew, to discuss how consumer finance products shape behavior, why traditional budgeting tools often fail, and how Crew is building a calmer, more intentional alternative to today’s banking and investing apps. We cover Crew’s pocket-based banking model, the problem with credit card and neobank incentives, how AI helps a small team move faster, and why Gentry ultimately wants to build the “anti-Robinhood.”

    Your Bank Account Is Becoming a Budgeting Engine | Gentry Davies, Crew

  6. Jun 25

    The Revenue Team Is Getting an AI Data Analyst | Harsha Mokkarala, E:cue

    Harsha Mokkarala, founder and CEO of e:cue, joins Terminal Value to discuss why go-to-market analytics is still so fragmented — and how AI data analysts could change the way revenue teams operate. We cover why marketing, sales, and finance often have different versions of the truth, why dashboards can create more reconciliation than clarity, how e:cue is building Q as a C-suite GTM analyst, and why the future of AI in revenue teams may move from insight to action.

    The Revenue Team Is Getting an AI Data Analyst | Harsha Mokkarala, E:cue

  7. Jun 20

    Insurance Brokerages Are AI's #1 Disruption Target | Vlada Lotkina, SuperAgent

    Insurance distribution is one of the last analog corners of software — and AI is moving in fast. In this episode of Terminal Value, Nik Singh sits down with Vlada Lotkina, co-founder and CEO of SuperAgent, to discuss why insurance brokerages have become one of the clearest targets for AI labor, and what it means to put an autonomous sales workforce inside an agency.Vlada lays out the "perfect storm" reshaping the industry: roughly a quarter of agency staff and owners are set to retire in the next four to five years, new agents take months to ramp, and margins are compressing at the same time. Most insurance AI has gone after the carrier side — underwriting, claims, the back office — but SuperAgent is built for the front end of distribution, where the majority of premium still flows through brokers and their customer relationships. She walks through how the product works as a multi-agent system: real-time coaching and AI role-play to bring every rep to the same bar, plus autonomous outreach that resurfaces the thousands of aged leads and former customers most agencies are already sitting on, opens conversations, and drafts quotes for a human to close.Nik and Vlada also get into the harder questions — where the human stays in the loop, why SuperAgent is built to grow revenue rather than just cut cost, how AI pricing is shifting from subscriptions and credits toward outcome-based models, how roll-ups and M&A are pushing small agencies to become technology-forward, and why being AI-native beats bolting AI onto legacy systems in a multi-trillion-dollar market.Guest: Vlada Lotkina, Co-Founder & CEO of SuperAgent

  8. Jun 11

    Application Security Is Becoming an AI Workforce | Shan Kulkarni, Nullify

    In this episode of Terminal Value, I'm joined by Shan Kulkarni, co-founder and CEO of Nullify — an AI-native product security company building AI agents for application security. We discuss why the old "shift left" promise often created more work for security teams, how Nullify uses agents, Vault, context, memory, and tooling to automate AppSec workflows end to end, and what changes when software starts getting measured like labor rather than seats. IN THIS EPISODE, WE COVER:- What application security is, and why legacy scanners create alert backlogs- How AI agents triage vulnerabilities, validate exploitability, open pull requests, follow up in Slack, and close the loop- Why Vault and customer-specific context are central to Nullify's product advantage- Where humans still matter: threat modeling, design reviews, architecture, and stakeholder translation- Why Nullify's ICP starts around companies with 50+ developers- Campaigns, campaign lookbacks, and merge-ready rate- Pricing AI agents against security headcount and operating expense- How security jobs may evolve as AI takes over more repetitive workflow execution- Why agentic systems create the next major security surface Subscribe for conversations on applied AI, vertical SaaS, and where value accrues in software businesses. #ApplicationSecurity #AppSec #Cybersecurity #AI #TerminalValue

    Application Security Is Becoming an AI Workforce | Shan Kulkarni, Nullify
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About

Terminal Value is a market landscape podcast that breaks down where value accrues in AI, software, and technology markets through deep dives with founders, operators, and investors.

Information

  • Creator
    Nik Singh
  • Years Active
    2026
  • Episodes
    13
  • Rating
    Clean
  • Copyright
    © 2026 Nik Singh
  • Show Website
    Terminal Value