Anish Acharya

I looked at the data this morning, and if you look at public market SaaS companies, 75% have raised prices since ChatGPT was released.

75%.

75%.

And they've raised prices meaningfully.

And they've raised prices meaningfully.

The mean is 8% to 12%, but there's a large group that have raised it 25% or more.

The mean is 8% to 12%, but there's a large group that have raised it 25% or more.

Price is a measure of product market fit.

Price is a measure of product market fit.

And if you have enormous competitive pressure, you are not raising prices.

And if you have enormous competitive pressure, you are not raising prices.

You're typically cutting prices.

You're typically cutting prices.

So I think, one, you've got this dissonant fact that prices are going up.

So I think, one, you've got this dissonant fact that prices are going up.

Two, if you look at the incumbents today, like ServiceNow is not IBM.

Two, if you look at the incumbents today, like ServiceNow is not IBM.

They're a highly capable incumbent.

They're a highly capable incumbent.

They just went public and they raised guidance.