TechCrunch SaaSpocalypse Deep Dive: $285B Wiped From Software Stocks, IGV ETF Down 22% YTD, $2T Lost in 30 Days

TechCrunch·high signal

TechCrunch's March 1 SaaSpocalypse analysis documents the financial damage: $285B+ erased from software stocks, the iShares Expanded Tech-Software ETF (IGV) down 22% YTD, and $2T in software market cap lost between January 15 and February 14 alone. The mechanism is structural: when one AI agent-equipped user can replace five traditional workers, per-seat pricing collapses and SaaS revenue models break at the unit economics level. The article frames the outcome as selective unbundling — commoditized point solutions face replacement, deep-moat platforms emerge stronger.