Aswath Damodaran

Sometimes you can just show up with a bunch of cash and make bail.

Right.

But generally speaking, if you get arrested, what happens is your lawyer says, well, he or she is going to go through the system and it's going to be a few hours or a day.

What you don't want is to be in a smaller jurisdiction arrested on a Friday after like 5 p.m.

because that means you're not seeing the judge till Monday.

I'm going to come up with nicknames for your prison name and just make fun of you.

White bread.

Tasty Ed.

Tasty Ed.

So Aswath, let's double-click on that.

You've seen some of the most iconic software firms off 30%, 40%, and as a multiple on free cash flow, they're trading at, some of them at all-time lows.

And Ed's thesis, and I think I agree with him, is that it might be a buying opportunity.

Because when I look at the, if I think of their integration into businesses, there's

The tip of the iceberg is, all right, what can be done using AI now?

But below the surface is they have billing set up, they have UI, they have relationships with the company.

I can't even imagine, even my last company, L2, we used Salesforce to track our leads.

The idea of getting just a sales team of five or six people

to retrain them on another product, I don't care if it was 50% less expensive, we wouldn't have done it.

So is this an opportunity?

Have these companies been oversold, the Adobe's, the ServiceNow's, the Salesforce's?