It’s Not About the SaaS: Why the market is wrong about Salesforce
Salesforce’s stock has halved on fears that AI makes it obsolete. We think the market is punishing the wrong risk. Read why we see this as a mispriced opportunity, not a structural decline.
What AI investors can learn from the hype cycles of weapons
AI may be the defining technology of our time, but history suggests revolutionary technologies often normalise once deployed in the real world. Andrew Macken examines what investors can learn from military technology hype cycles and what it means for AI, enterprise software and durable competitive advantage.
The Other Side of The SaaS Apocalypse
The market is selling off software stocks on fears that AI coding agents will displace traditional platforms. But this narrative misses three critical realities: competitive advantages lie in distribution, not code; security concerns which limit agent deployment; and the fact that power infrastructure can’t support mass adoption for years.