Okta, a $14 billion market cap company, faces pressure from AI tools that could replace expensive SaaS platforms as companies build custom solutions
CEO McKinnon acknowledged being "paranoid" about the "Saaspocalypse" during recent earnings call, signaling serious concern about industry disruption
Okta is shifting strategy to focus on AI agent identity and security management as a new growth opportunity in the AI era
The company's core business of managing employee login credentials and identity access across applications remains valuable but faces obsolescence risk
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