There are many ways to slice-and-dice public market data, but the one Bessemer called out is the most visceral I’ve seen:
Public SaaS and Cloud companies lost $1 Trillion in market cap so far in 2022.
And the number of public SaaS and Cloud decacorns has fallen from 50 to 17. This puts a lot of pressure on all the private unicorns out there:
We did a deeper dive on decacorns here.
At the same time, the leaders in Cloud (AWS, Azure, Google Cloud) are growing a stunning 40%. Growing at a pace and scale like we’ve never seen before:
That’s got to be the most visceral juxtaposition in my time in SaaS. Cloud leaders lose $1 Trillion in market cap, at least for now … in the Best of Times for SaaS and Cloud.
Strange Days, Indeed.