Back
“Software-as-a-service stocks have massively underperformed because the cost of running AI is so high it completely breaks how these near-zero-incremental-cost business models used to mint money.”
Source
Dwarkesh PodcastYouTube“Satya Nadella – How Microsoft thinks about AGI”9:48
“Software as a service, incredibly low incremental cost per user... This is why not Microsoft, but the SaaS companies have underperformed massively in the markets because the COGS of AI is just so high and that just completely breaks how these business models work.”
Performance
Entry$35.78
Current—
Since call— pending
Confidence72%
How this was scored
Entry$35.78Nov 12, 2025 · 17:02 UTC · paste.trade
Horizonmulti-yearparsed as default-30d
Verdict bandWIN ≥ +2% · LOSS ≤ −2%
Prices are point-in-time snapshots from the named provider. The verdict compares the return since entry against the band above.