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Dipped my toe into the SaaSpocalypse and bought something very boring, CRM.
I've been doing the same, under the same thesis. people are overthinking ai as a substitute to traditional services I think, while it is more of a complement
The youtube finance investor Jeremy is buying heavy SaaS socks like CRM and Service Now (NOW). He has the same thesis. AI isn’t going to take over everything once Wall Street wakes up capital can follow back into these companies.
I had my eye on this one for quite some time. I haven’t added shares yet. I been buying BDCI now as my blank check play. But like you I do like Gentry I might get some shares of BIXIU (BIXIA is on Robinhood)
Chamath had a good point on the pod this week too, eventually the model providers are going to be begging CRM and others to sell tokens for them once the token-selling race to the bottom comes into play. With SpaceX selling spare compute to Anthropic already my guess is that's coming faster than anyone thinks.
Dipped my toe into the SaaSpocalypse and bought something very boring, CRM.
These things are trading 2-3x cash flow and no sign of AI eating their businesses, quite the opposite as they have a lot of data and distribution to leverage. Benioff just happened to be on All-In this week too and affirmed some of my hunches.
Once AI paralysis wears off these could rip.
Only one that interests me is Ryan Gentry's SPAC, BIXIU, gonna snag a bit I think.
Been listed a little while now with no news or leaks afaik, so feels like its due to announce something.
No idea what it's for yet, just another blank check bitcoin acquisition company, but I've always liked Gentry (former BD at Lightning Labs) and think it has a better shot of announcing something exciting than not.