We started out the year with a significant sell-off in the SaaS industry, with the claims that AI is making all SaaS companies obsolete or that all SaaS businesses could be overruled by your average Joe, coding his way to becoming a billion-dollar business solely using AI.
By now, most of the market is realising that AI is a significant contributor to productivity and efficiency across many industries, not being totally replaced.
However, the market reacted quite strongly recently.
The market and investors (luckily) came to their senses. Not all companies have yet ‘recovered’ from this sell-off, but we’re on the right track again.
Some argue that the SaaSpocalypse was just a massive multiple re-rating by the market, and it does hold some significance. The market, especially SaaS companies, has been valued for perfection for years on end now. After the COVID crash, we’ve seen multiples shoot to extreme levels. Many argued that this was bound to happen since most of these multiples aren’t sustainable for a significant portion of companies, and I partly agree.
Another event that happened was in Mexico, where the cartel and police were clashing in the streets, and not just any streets, but the streets/places where it is densely populated with both locals and tourists. Cars on fire, smoke filling streets, and many, many impacted by the whole situation.
After this doomsday scenario, yesterday we had yet another breaking event… Iran is being bombed by the U.S. and Israel, and Iran is bombing the UAE, Kuwait, Bahrain, and another handful of countries, striking the U.S. bases located in those countries.
It seems like we’re not catching a break…
Our portfolio is not resilient to all these events, not at all. I’ll be going over the recent transactions and give some of my thoughts on the ifs, but’s, and maybes.
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