Summary:
- The article discusses the "SaaSapocalypse," which refers to the recent downturn in the software-as-a-service (SaaS) industry and its impact on software stocks.
- It explains that the private credit market, which has been a major source of funding for many SaaS companies, is experiencing a "shock" that is rippling through the software sector.
- The article suggests that this credit crunch is leading to a reevaluation of the valuations of SaaS companies, as investors become more cautious about the sustainability of their business models.