That’s right folks, 40% of PE deals between 2018 and 2022 were for software companies, the very same time venture capital fund returns got worse. Venture and private equity has piled into an industry it believed was taking off just as it started to slow down.

The AI bubble is just part of the wider collapse of the software industry’s growth cycle.

This is The Hater’s Guide To The SaaSpocalypse, or “Software As An Albatross.”