/Insights/JANA Podcast: The Software Selloff – Is AI Rewriting SaaS Economics?
Insights & Perspectives

JANA Podcast: The Software Selloff - Is AI Rewriting SaaS Economics?

Is the recent software selloff just another tech correction or is AI fundamentally reshaping the economics of SaaS companies?

30 Mar 2026
by Christopher Beattie
by Matthew Gadsden

Is the recent software selloff just another tech correction or is AI fundamentally reshaping the economics of SaaS companies?

In this episode of the JANA Podcast, Christopher Beattie speaks with Matthew Gadsden about the key drivers behind the recent drawdown in software markets and what it means for institutional portfolios.

They explore how AI-driven disruption is challenging traditional assumptions around SaaS durability, and why the current environment may be very different from previous selloffs.

Topics covered include:

  • What’s really driving the recent selloff in software and SaaS companies
  • How AI agents may be impacting seat-based revenue models
  • Why not all software businesses are equal and where durability remains
  • Whether the selloff is overdone and how investors should think about positioning

Click here to listen on Spotify.

Important information

This podcast is issued by JANA Investment Advisers Pty Ltd (ABN 97 006 717 568) (AFSL 230693) (‘JANA’). It is intended for use only by a ‘wholesale client’ (as defined in the Corporations Act).

Where JANA relies on third parties to provide information used in this recording, JANA its directors and its employees, are not responsible for the accuracy of that information. Opinions expressed constitute JANA’s judgement at the time of this publication and are subject to change. Subsequent changes in circumstances may also affect the accuracy of the information.

Any past performance noted in the recording is not indicative of future performance.

JANA does not provide any guarantee about the future performance of the investment products, managers, asset classes or capital markets discussed.

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JANA respectfully acknowledges the Traditional Custodians of the land where we work and live. We pay our respects to Elders past, present and emerging. We celebrate the stories, culture and traditions of Aboriginal and Torres Strait Islander Elders of all communities who also work and live on this land.