Exactly, SAAS is much easier to analyze, that's why everyone moved to SAAS investing because it doesn't have many "flips of coin" in order to be successful. >

Exactly, SAAS is much easier to analyze, that's why everyone moved to SAAS investing because it doesn't have many "flips of coin" in order to be successful. > As far as a downturn taking down growth equity - time will tell. As with everything. My prediction is, as the concentration around SAAS increases, more funds will be created (especially if no other instruments can produce such a high predictable growth) leading to more concentration. If I didn't have a business to run, I would be already trying to raise fund for Series A and B to focus on non-SAAS business. You get quite heavy discount on them as there is little competition and and you again get the 1/3 business model of early stage VC, which can produce outsized returns. over just 3x.