What VCs Are Hunting Now: The Bar Moved From $1B to '$100B in 10 Years'
SaaStr·low signal
Lemkin notes the venture target outcome has inflated from the once-crazy $1B exit (Salesforce was worth ~$2B at its founding) to investors now underwriting '$100B in 10 years' AI-native outcomes. The reset reshapes who gets funded in SaaS categories — capital concentrates on companies positioned to become category-defining agent platforms, starving incremental feature-SaaS of growth funding. For solo and indie builders, it clarifies why mid-size SaaS outcomes are getting harder to finance even as the tooling to build them gets cheaper.