CDH Innovation Download
Australia's innovation scene moves fast – from corporate ventures to startup breakthroughs, there's always something happening.The CDH Innovation Download keeps you across news from both sides of the fence, so you never miss what matters in Australian innovation.
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Issue #6: The SaaSpocalypse: the End of Easy SaaS
By Darren Huang · · View online →
Welcome back to Innovation Download, our monthly look at the news impacting Australia's startup scene.
This month we’re talking about the SaaSpocalypse. It's dramatic, but has become the go-to phrase to describe the sudden turn against traditional SaaS companies in the public markets, and it had a clear trigger. Anthropic dropped a set of Claude features that just do the work for you, data analysis, expense tracking, the stuff that used to need a paid seat, all in plain language. Investors responded by going into full “voting machine” mode, as the Warren Buffett quote goes (ps. here's a great read on Mr Market). And the selling has come in waves, one Claude release at a time. Claude Cowork, launched in January, and on its own took double digits off Adobe and Salesforce. Then the security tools landed: Claude Code Security pulled around 5% off the cybersecurity sector in February, and in March, word of a model that finds software vulnerabilities on its own, Claude Mythos, sent CrowdStrike and Palo Alto Networks down roughly 6% in a single day.
So