I agree a sea change is coming. Eventually. My experience working on tech for hospitals over the past decade is these legacy IT departments are mostly 40-60 year olds clinging onto their jobs for the benefits and 401k plans. Very few of these folks truly belong in the tech sector. They can’t vibe code a new cybersecurity solution if their lives depended on it. So we’ll still use Crowdstrike. Using capital on platforms that improve credibility, stability, and support isn’t seen as a burden…it’s just the cost of doing business. For now at least.
This guy has some interesting points on how AI how threatens SaaS, and how “statement of record” enterprise platforms are going to be the most insulated:
https://hightechinvesting.substack.com/p/why-ai-is-not-eating-enterprise-software?r=2t5wha
the 'sea of red' charts are pointless.
Most of the time when there is a 'sea of red chart' - the stocks are down by just a few percent on average because the US dollar has strengthened ever so slightly.
Show the SP500 chart since 1900 instead and notice how tiny the recent blip down is