Love this investment memo from @tylertringas and the team at Earnest, describing why they believe verticalized B2B SaaS is effectively an emerging new asset class:https://earnestcapital.com/investment-memo-fund-2/ …
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I basically entirely buy the thesis. (Disclaimer: I’m an LP in TinySeed, a fund which runs on an extremely similar thesis. To extent you buy that it is an asset class, this is like “I like stocks.” “What a coincidence, I also like stocks.” “Do we like the same stocks?” “Maybe!”)
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A savvy person of my acquaintance suggested a few years ago that there were 30k SaaS firms worldwide. That number is certainly outdated now. The crazy idea here is that they should eventually be approximately as common as mid-sized apartment buildings.
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They already are, and will continue to be, much more geographically distributed within and between countries than venture investment traditionally is. They will eat the remote work/employment opportunity a lot faster than AppAmaGooFaceSoft and upcoming similar companies will.
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I know this is Twitter and you have a character limit, but "AppAmaGooFaceSoft" is difficult to decipher.
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