CROSS-CATEGORY: Great Investor Rotation + $3T Private Credit Contagion + Jefferies $285B SaaS at Risk — Three Financial Signals Frame Same Industrial Reallocation
Three simultaneous financial signals in the March 15-19 window confirm the SaaSpocalypse has moved from valuation narrative to systemic financial reality: Jefferies estimates $285B of the global SaaS market is vulnerable to AI disruption; the March 18 Great Rotation saw billions exit software into defensive/value sectors; and private credit contagion spread to Blackstone, KKR, Apollo, Ares, and Blue Owl as their software-heavy portfolios face loan default risk. Software EBITDA multiples collapsed from 30x (2022) to 16x (2026), and NPR mainstream coverage confirms the risk has crossed from tech press into public financial discourse. This is the largest concurrent financial signal cluster yet observed across the SaaS disruption thesis — spanning equity markets, private credit, and mainstream finance simultaneously.
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