#341 - Raphaëlle d'Ornano - Behind Decoding Discontinuity

In this episode, I welcome Raphaëlle d'Ornano, founder of Decoding Discontinuity, both an advisory firm and an investment fund, for a conversation about agentic AI, architectural resilience, and what it really means to invest in a world where business models are being fundamentally rewritten.We talked about:Orchestration as the real competitive moat of AI labs: why only 11% of enterprise builders switched AI providers last year despite the switch being technically trivial, and what that paradox reveals about where lock-in actually livesThe concept of architectural resilience: why analysing classical competitive advantages no longer makes sense if a company's terminal value is drifting toward zero because of AIWarren Buffett's castle metaphor revisited: attacks now come from the sky and from the foundations, not through the front doorThe choice of a hedge fund over a venture capital structure: how her framework, companies going to the moon vs. going to zero by 2030, maps better onto public assets across global marketsThe SaaSpocalypse: why historical SaaS categories (horizontal, vertical, infrastructure) are dissolving in a world of agent fleets, and why many companies' defensive positions are, in her view, short-livedThe gap between US and European allocators: not a difference in intelligence, but in physical proximity to the AI labs, creating a lag of several months in real-world understandingThe human side of the transition: how companies that face the truth honestly are beginning to redesign their workflows with intelligence at the core, rather than resisting the inevitableA sharp, unfiltered conversation that gives concrete tools for thinking about company value in the age of agentic AI. Raphaëlle's recommendation: “Letters” by Albert Camus & Maria Casarès https://www.penguin.co.uk/books/313959/letters-by-casares-albert-camus-and-maria/9780241400425 Useful links:Raphaëlle d'Ornano: https://www.linkedin.com/in/raphaelle-d-ornano/ Decoding Discontinuity : https://www.decodingdiscontinuity.com/  Finscale is also available on YouTube: https://www.youtube.com/@finscale ********************Finscale is much more than a podcast.It’s an ecosystem that connects key players in the financial sector through networking, coaching, and strategic partnerships.Enjoy listening!