Neal Freiman

maybe by the dip.

You know who else is a big name who is saying that this could be overblown is Sundar Pichai, Alphabet CEO.

He said yesterday, I think it is an enabling tool, speaking of AI, just like it has been an enabling tool for us across our products and services.

So basically parroting the same exact argument that these tools are widely used for a reason.

There's no need to go reinventing the wheel when the wheel works just fine.

Where is all this money going though?

Because if you are rotating out of software stocks,

you must be rotating into something else.

And a lot of them are going into consumer staples.

Bank of America said that buyers have been pouring into consumer staple stocks at the fastest pace on record.

These are things you use every day.

Food stocks, beverage, hygiene products,

Stuff you need to live.

So we're seeing a little bit more of that defensiveness from the market, whereas before over the past, you know, really decade or so, SaaS stocks have been the de facto thing that if you wanted to grow your money, that's where you would put your money.

Now the money is going to more defensive stocks.

Yeah, I think it's worth putting a point on just how kind of shocking this is, because if you wanted to beat the S&P 500, you would go into a basket of software stocks because they were so dependable.

It's a very sticky product.

If you're a company that buys Monday.com or Salesforce, it is very that's very expensive, first of all.

And it's also very annoying to

change from that particular product.