Curtis Wadsworth 6/1/26 Curtis Wadsworth 6/1/26

Is SaaS Dead? The $2 Trillion Question Hiding in Every AI Pitch Deck

VCs have repositioned around AI-native companies that don't sell tools — they sell outcomes. Services-as-software (SaS). A new category for a new era, sold to LPs as the answer to the SaaS multiple compression problem.

Here's the problem: most of the companies pitched into that category aren't services-as-software. They're tools dressed up in outcome language.

Here's a founder-grade test that will tell you which side of the line your company is actually on — before a Series B diligence partner does it for you.

Curtis Wadsworth 10/14/25 Curtis Wadsworth 10/14/25

The Perfect Storm: Why Venture Capital's Liquidity Crisis Is Reshaping Startup Funding

When Goldman Sachs announced it would acquire Industry Ventures for up to $965 million last week, the deal underscored a seismic shift happening beneath the surface of venture capital: the secondary market has exploded from a niche tool into a $152 billion necessity, fundamentally changing how startups get funded and how investors get paid back.

For better or worse, this is the new reality of startup funding. VCs can no longer afford to simply "spray and pray" and wait for exits. They need active liquidity management strategies. And that fundamentally changes what kinds of companies get funded and how.