Jason Lemkin

Those issues haven't changed.

Those issues haven't changed.

And I would say we're no longer, what's great is we're not in free fall because free fall leads to panic everything, panic buying, panic everything.

And I would say we're no longer, what's great is we're not in free fall because free fall leads to panic everything, panic buying, panic everything.

But even with the re-acceleration, Atlassian still at 4X ARR, HubSpot 3.8X ARR.

But even with the re-acceleration, Atlassian still at 4X ARR, HubSpot 3.8X ARR.

Salesforce, Forex.

Salesforce, Forex.

So I know Rory really disagrees with me here, but I just don't think investing really works without 10X or higher outcomes.

So I know Rory really disagrees with me here, but I just don't think investing really works without 10X or higher outcomes.

And I know they're public and I know they're mature, but I think the panic part of the SaaSpocalypse is over.

And I know they're public and I know they're mature, but I think the panic part of the SaaSpocalypse is over.

We overcorrected as we always do.

We overcorrected as we always do.

And we may be over-indexing on semiconductor stocks today that will be seasonal as well, but the issues haven't gone away.

And we may be over-indexing on semiconductor stocks today that will be seasonal as well, but the issues haven't gone away.

It's just we over-panicked on the timing of them.

It's just we over-panicked on the timing of them.

I think the interesting thing is there is look, there is a modest reacceleration of multiples for almost everybody, right?

I think the interesting thing is there is look, there is a modest reacceleration of multiples for almost everybody, right?