Jordi Visser

The problem with SaaS, as people are realizing, is SaaS is directly at odds with artificial intelligence.

And I've been writing about it.

We've talked about it here.

People that love the show seem to be okay with me.

The second I started talking about the fact I don't wanna be involved in tech, they're like, oh, that's already happened.

I wrote a piece on software needing to be re-rated in December.

That's what's happening.

The problem is SaaS had its biggest bubble ever and the most VC investments the same year the crypto space did.

They are combined.

They are connected.

So I think people are missing the fact that so far this year, the IGV, which is the software ETF, as of yesterday's close, was down 24%.

Bitcoin, as of this morning when we walked in here, was down 24%.

These are year-to-date.

You can't, the overlay of the two is eerie.

So I think when you can find something that says Bitcoin is being treated like a software group, but here's the thing about it.

There are a lot of hedge funds

who also have private arms.

They have investments.

I'm not going to go through the names, but a lot of them have had a lot of trouble in 2022.

The crossover funds.