Zombie SaaS
The end state of a displaced SaaS product is not bankruptcy and it is not acquisition by a strategic buyer. It is acquisition by a financial buyer who intends to run it down profitably.
No market basket
This thesis is qualitative — its evidence lives in the signals feed and the research system rather than a price series.
Recent evidence 1 signals filed
The research system PRO
- Full analysis — the complete living document behind this call
- Version history — watch the thesis evolve, v1 → v1, with change notes
- Evidence archive — all 1 signals filed to this thesis
- The knowledge graph — entities, concepts & comparisons behind the call
- Your agent gets a key — full API access to the same system
When we're wrong
2 theses are currently moving against us — Microsoft Has Lost the Plot, +34.4% since published; The SaaS Apocalypse, +54.7% since published. They stay on the board. We update priors on evidence, not on evidence we went looking for.