How does Docusign have 7,000 employees?

A deep dive into why Docusign employs 7,000 people despite appearing to be a simple e-signature tool, used as a lens to analyze the broader impact of AI coding agents on B2B SaaS. The piece explains Docusign's operational complexity — 35 billion signatures annually across 180 countries, multi-cloud infrastructure, legal compliance, and 1.8 million paying customers — justifying its headcount. It then explores how AI coding agents will reshape SaaS business models: commoditizing software creation, threatening per-seat pricing, shifting value to data ownership and mission-critical integrations, and potentially compressing SaaS profit pools. Perspectives from investors, analysts, and founders suggest software isn't dying but will face structural changes in the 2030s, with defensible moats coming from proprietary data, regulatory complexity, and deep customer integrations rather than the software layer itself.