Bill Gurley: SaaS disruption fears are 'unlike anything I've ever seen,' but buy the dip

Benchmark partner Bill Gurley said the current AI-driven anxiety across software stocks is unprecedented in scope: "I've never seen a disruption that had this much anxiety and go across so many companies." He compared it to Facebook's post-IPO mobile transition panic. Gurley noted that AI-native companies like Anthropic still use Workday and Salesforce, suggesting traditional SaaS isn't dead. His advice to believers: "Pick them up off the floor," channeling Warren Buffett's approach to buying during fear.

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