Contrarian take: Long beaten down FOUNDER LED software businesses that are sticky and can be AI winners b/c of unique distribution monetize. I'm buying these companies below the orange line basically. - Monday AI work grew to $1m ARR after 2.5 months since launch. 252k customers to cross sell AI to. NDR is 110% - Figma Make + Opus makes it MUCH easier for companies to build / prototype software quickly in existing design system. What's stopping Figma from being the Cursor for designer? NDR Is 131% - Hinge Health (despite PT being available at your finger tips in ChatGPT) grew number of members by 47% YoY to 782k up from 532k and Gross Margins increased by +23% in the last 12 quarters due to AI (less customer support). The 0 risk is real -- enterprises just use Claude Code or Codex to build and replace CRM software to save $. Use ChatGPT for PT versus going to virtual PT. But these founder led companies at $MNDY $FIG $HNGE aren't dumb -- they'll figure out how to leverage distribution to monetize w/ AI and improve margins and cut cost. Market is way overreacting. Software is NOT dead. And this is someone who uses Claude Code every single day.