AI rollups won't work
VCs discover PE investors' favorite playbook and it still won't work
VCs have become besotted with the promise of layering AI on top of PE-style rollups. The idea is intoxicatingly simple. AI agents automate complex workflows. Many industries, including plumbing, HVAC, accounting, healthcare back offices, etc., are fragmented across thousands of small operators. So why not buy them up, plug in agentic AI workflows, and w…