RECEIPT #BEN-TH
JUN 01, 2026
PREDICTION BY
Ben Thompson“We dive into why software companies have more moats than their skeptics acknowledge, but nevertheless face a variety of headwinds that are likely to spur painful corrections to the valuation of these companies, consolidation, and substantial layoffs.”
FOLLOW-UP
While initial market corrections and some layoffs have occurred, the full extent of the 'painful corrections,' 'consolidation,' and 'substantial layoffs' is still developing and will be verifiable over the next 12-24 months.
ORIGINAL SOURCE
stratechery.com