Are software investors f***ed? “If you are a pure software investor, you are kind of fucked. SaaS, I do not think, is going to be where you gain margin anymore. SaaS was massive fragmentation of the market because the delivery mechanism became very easy and frictionless. Now applications are starting to become more about the intelligence layer, and I just do not see software being a huge market in 20 years.” @NaveenGRao Love to hear your thoughts @jasonlk @jaminball @ttunguz @poyark