The Leading Public Software Companies Are Now Down -50%
Author Takes
Software company valuations
This is a structural re-rating of an entire asset class, not just a correction - the market no longer believes software is a premium business
AI deployment challenges
Most companies incorrectly think they can solve FDE shortage with customer success, but CS teams lack the technical skills needed for AI deployment
Contrarian Angle
Stealth AI Churn Strategy
Specialized AI tools are replacing broad platforms by excelling at single use cases rather than competing head-to-head
Winning by unbundling established platforms through superior single-feature performance rather than platform competition
Multiple AI tools (Reve, Opus Pro, Higgsfield, Gamma, Claude) replacing Canva
Author stopped using Canva as specialized AI tools replaced different use cases
Engineers switching from Canva to Multiple AI tools (Reve, Opus Pro, Higgsfield, Gamma, Claude)
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