'Get me out': Traders dump software stocks as AI fears erupt Sometimes, amidst major technological waves, the demands on understanding rise dramatically. The primary factors influencing the development of things differ across different periods and historical contexts, making me increasingly aware that nothing is truly immutable. If something is, it might be due to insufficient timeframe or experience, such as within a 30- or 60-year timeframe. For the past two decades, SaaS, characterized by "light assets, high profit margins, and high growth," was the domain of fervent investors. However, since last year, with the accelerated and in-depth development of AI, while Claude Google and OpenAI consistently deliver groundbreaking product launches, SaaS software is being pushed to its grave. The indiscriminate flow of good and bad isn't frightening; what's frightening is structural differentiation. This indicates that there are aspects you haven't seen or understood, where changes are quietly taking place.