Markets
Fortune: The Great Software Panic — Wall Street Convinced AI Kills SaaS, but History and Economics Push Back
Fortune's April/May 2026 cover story examines the SaaSpocalypse counter-narrative. After Anthropic's Claude Cowork demo on February 24 erased $285B from SaaS valuations in 48 hours, the article argues that SaaS companies add value through deep domain expertise, workflow design, integration, compliance, and security — functions much harder to replicate with AI. The key insight: the demo showed agents handling legal review, financial analysis, support triage, and PM — precisely the $20-$150/seat categories — but switching costs in enterprise are stickier than markets assumed.
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