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In January, roughly $300 billion in software market value disappeared in a single trading session.
Let that sit for a second. Three hundred billion. Gone between the opening bell and the close. Not because the products stopped working. Not because customers canceled en masse. Because a handful of AI companies made announcements about what their agents could do, and the market collectively decided that maybe the software those companies sell isn’t worth what it was worth yesterday.
If you’re building a SaaS product right now, you’ve already felt the tremor. Maybe it was a Slack message from your co-founder with a link to the TechCrunch headline about the “SaaSpocalypse.” Maybe it was a board member casually asking how your product “holds up in an agentic world.” Maybe it was 3 AM, staring at the ceiling, wondering whether the thing you’ve spent two years building is about to become a feature inside someone else’s AI.
That anxiety is everywhere right now. And it’s making people do some profoundly stupid things.
