Beyond meat, levis, pinterest, lyft, uber, and airbnb arent SaaS like most of ours.
When these crash, i think money flows right back to consistently-executed growth stocks like those discussed here.
Zoom was overkill but does shine a spotlight on “built for cloud” SaaS, i think in an overall good way. Slack, zen, now, okta, twlo…anyone looking to become a platform or easily work with this new wave of platforms is a trend not a fad.
Chief Data Officers are becoming a thing…making data actionable to provide a competitive advantage isnt going to go away…thus mdb estc ayx and others.
Titans like FB and Google were created off ad spend…TTD is in right market.
Facebook bought WhatsApp in 2014 or so for something like 17b, yet they did less revenue at the time than Zoom does today. Sometimes value is how much someone will pay to own it.
If you were CEO of ZS or MDB or OKTA…what offer would you sell at? The answer may be a lot different than for evbg or PD, given their smaller mkt cap, revenues, and perceived SAM.
I hope all these new IPOs crash hard, especially Zoom and Slack, so that I can buy them cheaper in the Fall or Winter.
I will keep an eye out for Snowflake IPO too.
I am paring down some of the most expensive stocks, but unlike mistakes i made last year, i am not selling out completely while the growth stories are intact. Going to carry a bit of cash to be opportunistic if i can.