Thread · 4 stories · Jan 5 – Apr 21 · concluded
AI ate the software business in public: Stack Overflow collapsed, Tailwind cut 75% of staff, and Figma, Atlassian and HubSpot fell 69-86%.
Jump to timeline ↓The argument began as a thesis about first- and second-order effects — SaaS companies cooked by AI, then the developer ecosystem around them, with Stack Overflow's monthly questions falling from 300k to near zero and Tailwind cutting three-quarters of its staff.
By April the market had marked it: Figma down 86%, Atlassian 75%, HubSpot 69% from their highs, with the underlying claim that systems of record are being demoted to inputs for agents.
