Is AI Killing Software?

The Long Angle Investments team examined this question in our new research paper: Software vs. AI Q1 2026. 

The “SaaSpocalypse” refers to the sharp decline in valuations of traditional SaaS companies, driven by the threat of AI agents capable of automating workflows that previously required enterprise software.

The selloff has been severe, so we dug into the fundamentals to see what the data actually reveals.

The bearish case:

The bullish counterpoints:

The useful distinction for investors is not software versus AI broadly, but which software companies compete with AI and which ones enable or embed it. The metrics covered in the paper are the right instruments to track that distinction over time.

Read the full paper, including the top 3 implications for investors.

We ran a poll in the Long Angle Families group this week asking members what weighs on them most when it comes to raising kids with wealth.

The top two answers, tied at two-thirds of respondents, were Spending and Earning: whether kids will develop the right financial habits and agency to build their own way in the world.

The underlying fear is that a financial safety net removes the natural pressure that builds discipline and drive.

The bottom three on the chart (empathy, identity, and relationships) focus on social and emotional development: who kids become, not just what they do with money. The common fears are that wealth could create distance from peers and prevent kids from developing a grounded sense of self.

The conversation in the replies has been candid. Several members zeroed in on something the poll options don't fully capture: the challenge of building resilience and internal motivation in kids who will never face real scarcity.

The 24 replies in the thread are worth reading. Join the conversation.

The Navigating Wealth Podcast sat down with Megan Nicholson, Partner at ImageArb, to discuss how HNW investors should think about hedge funds.

A hedge fund is an actively managed investment vehicle that uses a range of strategies, including short selling, leverage, derivatives, and sector specialization, to generate returns with a different risk profile than a simple long-only equity or bond portfolio.

Why invest in hedge funds? The core thesis for most individual investors is accessing specialist knowledge you could never replicate through public market research. This knowledge gives you access to the upside in a given area with some structural protection on the downside.

The hard part is whether you can evaluate them well. Institutional allocators look for managers with:

That last point is an important one. Hedge fund appetite among sophisticated allocators has shifted toward niche, sector-specific managers who have spent years developing an information edge in a narrow space.

Listen to the full podcast episode to learn how hedge funds actually work and what even experienced investors often get wrong about the asset class.

Our keynote speaker for the 2026 Member Retreat is Sahil Bloom, former finance executive turned New York Times bestselling author of The 5 Types of Wealth.

Sahil speaks to topics heavily discussed by Long Angle members: 

The session will cover the five dimensions of wealth. Only one of them is financial.

Additional speakers and the full agenda are coming soon. Only 45 rooms are left. 

Join Long Angle and reserve your spot for the Member Retreat in Austin this September 2026.

Chris Bendtsen

Insights Lead, Long Angle

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