Blockchain Lender Figure Technology Soars 150% From Its September IPO investors.com/research/the-n…

An interesting look at drawdown stats for individual stocks (such as SaaS stocks that have fallen 50% or more; from @TheTimeInvestor).

Interesting tweet from dharmesh the CTO of $HUBS

One bullish argument for SaaS is when it's easier to write code, you can derive more value per employee, while adding more features/revenue opportunities to your products. $NOW $ADBE

It’d be so easy to stand out as a principled politician in the majority party right now. And so essential to oneself.

Revenue per employee up 75% for the top decile of AI/software companies in 2025. Probably doesn’t slow down in 2026 given the December revolution in AI coding agents. Nothing to see here, move along. No evidence of AI productivity anywhere.

An interesting January for the market. Software slammed, but much of AI not doing much better (unless it’s the few giants). I’ll post an update for the month shortly. Set up the $LMND spread, as shared. Set up a new spread on $APP today.

Jeff Fischer Update: AI Stocks, Option Income, New Investments The major indexes continued to gain ground in January, led by small caps, but the market likely feels messy to many reading this, as software stocks have been hit, and companies of all stripes are falling despite

Only 31% of companies started in 1998 were still alive in 2005. Capitalism is brutal:

$NVDA CEO Jensen Huang said the market is wrong to think AI will replace software companies. He called the market’s fear of software displacement “illogical” and said time will prove the thesis wrong.

Enterprise software stocks are crashing across the board due to a huge misunderstanding about agentic AI. It's time to clear up this misconception among more investors, so I've now removed the paywall from what is probably my most important write-up of the year so far. It

It’ll be very interesting, and probably great investing, when the software companies that pivot well enough to lead in AI agents and other AI applications begin to be spotted. I’d give $NOW better than even odds.

I agree with the arguments that companies won't abandon their software providers, and take a few years to change to a hodgepodge of new AI-based systems (and all the business risk that entails) just to save about 5% of their operating budget. Instead, you start to use AI on top

$CRDO, $APP, $IBRX. It doesn’t matter, it’s just a day, but today was one for the books for all three. Things you never expect happen all the time with investing.

AI needs to create more good jobs rather than destroy millions of jobs, and be profitable for the companies spending hundreds of billions building it, for a bullish outlook for the economy. Getting there will likely be rocky, because first of course it appears it'll replace jobs.

Good, clear thinking from Todd Wenning -- link in the second post.

$ZS I think (and we'll find out), that ppl are simply not understanding the firm versus software. Zscaler is not a workflow app. It's not a "Monday . com." It’s an inline security enforcement fabric sitting in the traffic path of enterprises. You cannot "vibe code" the things