$2 Trillion Erased from B2B Software — Application Layer Crushed (Atlassian -50%, Monday.com, Asana) While Infrastructure Holds (Snowflake, Datadog, Cloudflare)

FinancialContent·high signal

A FinancialContent deep analysis quantifies the SaaSpocalypse at approximately $2 trillion erased from the B2B software sector, with application-layer firms devastated: Atlassian (TEAM) down 40-50% from 2025 peaks, Monday.com (MNDY) and Asana (ASAN) with significant drawdowns, Adobe (ADBE) under renewed scrutiny. Infrastructure plays (Snowflake, Datadog, Cloudflare) showed resilience and some gains, validating the 'data is the moat' thesis. The article reports approximately 1 AI agent deployed for every 5 human seats reduced, with Salesforce and ServiceNow attempting recovery through outcome-based pricing.