I see a lot of noise lately about the SaaS industry being in decline, but I think people are confusing market volatility with industry death. Stripe's Collison recently spoke out defending exactly that.

He’s right on a fundamental point: the numbers still show robust growth. Yes, expectations for 2030 or 2035 may have been revised downward, but that is very different from saying the SaaS industry is broken. The market is turbulent, no doubt, but that turbulence is more about market cycles than about the sector itself.

What makes the most sense in his analysis is decreasing marginal costs. That’s a structural advantage of software that doesn’t disappear just because investors are nervous. The more you scale a software product, the cheaper it gets. This dynamic continues unchanged.

So yes, the news about the SaaS industry may be full of pessimism right now, but the fundamentals are still there. The question is whether you’re looking at the short-term cycle or the long-term trend. For those building, the long-term trend is what really matters.