“#Atlassian’s stock has been among the hardest hit by the “#SaaSpocalypse”, a term coined to describe the #SellOff of software-as-a-service companies seen to be most threatened by #AI. In #Australia, it has been dubbed a “#SaaSaccre”.
#USA listed Atlassian is the worst performer of the #Nasdaq100 this year, losing more than half of its value since the start of January. The company, which trades under the ticker #TEAM, commanded a market capitalisation of $116bn five years ago but is now worth $20bn.”
If Atlassian made its fortune on worker collaboration, the AI #WhiteCollar movement will reduce people working and solve the “communication problem” between individuals.
Less workers, less #communication. Atlassian has a double whammy hit to its #business.
#ZeroHourWork / #work / #software <https://archive.md/CztkH> / <https://www.ft.com/content/206df66d-09ac-46b6-a3c6-a25aaf07eb8a?syn-25a6b1a6=1> (paywall)
“Over the past three-and-a-half decades, #India's #SoftwareIndustry has created millions of #WhiteCollar jobs, spawning a new #MiddleClass driven by high ambition and strong purchasing power. This, in turn, has fuelled demand for apartments, cars and restaurants across top-tier cities such as #Bengaluru, #Hyderabad and #Gurugram over the past 30 years.
The #NiftyITIndex of 10 of the country's biggest software companies is down some 20% this year, wiping out tens of billions of dollars in investor money.
The #SellOff began early in February after #Anthropic's #Claude agent released a new tool that it claimed could automate key legal, compliance and data processes, hitting at the heart of the #LabourHeavy industry's #BusinessModel.”
#AI / #ArtificialIntelligence / #software / #engineering <https://bbc.com/news/articles/c5yrq1090p8o>
WAR Token Explodes 100%, Then Crashes 20% In Sudden Sell-Off
https://misryoum.com/us/economy/war-token-explodes-100-then-crashes-20-in/
One person — or entity — controls 31% of all WAR tokens in circulation. That single fact sits quietly in the background as the Solana-based memecoin grabs headlines for one of the more dramatic two-day price swings in the current...
#WAR #Token #Explodes #100 #Then #Crashes #Sudden #SellOff #US_News_Hub #misryoum_com
Wall Street analysts weigh tech stock picks amid market sell-off
https://misryoum.com/us/economy/wall-street-analysts-weigh-tech-stock-picks-amid/
Markets sold off this past week as escalating US-Israeli strikes sent oil prices to their highest levels since 2024, leaving investors scrambling to price in the risk of a prolonged regional conflict. In times of volatility, Wall Street strategists...
#Wall #Street #analysts #weigh #tech #stock #picks #amid #market #selloff #US_News_Hub #misryoum_com
Sensex falls 1,122 points as Operation Epic Fury drives crude surge and global selloff
https://misryoum.com/us/markets/sensex-falls-1122-points-as-operation-epic-fury/
Fears of rising crude oil and gas prices, particularly with Brent nearing $85 per barrel amid concerns over the Strait of Hormuz, weighed heavily on sentiment. | Photo Credit: iStockphoto Markets endured a brutal session on Wednesday as escalating...
#Sensex #falls #1122 #points #Operation #Epic #Fury #drives #crude #surge #and #global #selloff #US_News_Hub #misryoum_com
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