What happens to bootstrapped SaaS when AI levels the playing field — and VC money controls distribution? Antoine Minoux, serial founder and builder of Fernand (a customer support tool for founders doing their own support), gets real about what's actually broken right now: UI as a moat is dead, cold email is harder than it looks, and "distribution is king" is not just a cliché anymore — it's existential.

In this episode we cover:

- Why Antoine rebuilt Fernand's AI layer (and what his power users are doing instead)

- The 3,000-email cold outreach experiment that looked genius and flopped

- Bootstrap vs. VC-funded SaaS in 2025 — who actually wins

- Why product-market fit is harder to find when everyone has the same AI stack

- The case for done-for-you services as SaaS's next pivot

- Why "sounds good ...