Bill Gurley points out that the AI wave has caused many people to rapidly accumulate wealth, forming a bubble, and he anticipates a reset is coming. He advises investors to focus on undervalued SaaS stocks, as the current software sector is being impacted by AI, with related company stock prices declining significantly. Meanwhile, he expresses concern about the high cash burn rate of leading AI companies.

This year, 27 software companies have mentioned AI agents as a competitive risk in their filings, but executives generally downplayed this threat during earnings calls, revealing a contradiction between their filings and public statements. This phenomenon has raised concerns among investors about the software industry, with some companies' stock prices falling sharply, leading to what is known as the "SaaS end-of-days" situation.

Odaily Planet Daily reports that Arthur Hayes posted on the X platform stating that BTC (white) has not yet decoupled from the US SaaS technology company (green). This may just be a short-term rebound, and it has not yet moved out of the danger zone. Patience is required.