Is SaaS losing its shine to AI?

What we’ll cover today:

📉 Is SaaS losing its shine to AI?
💡 Be careful of who you listen to.
💸 A simple strategy to make $20K/month with a micro saas
🔗 The Event Roundup

Is SaaS losing its shine to AI?

SaaS used to be the star of the tech world.

Now, it’s facing a serious challenge: AI.

Companies that were growing fast have seen their revenue growth cut in half.

Even big names like Salesforce are struggling, with their stock plunging after weak results.

Here’s what’s happening:

• SaaS revenue growth: Dropped from 73% to 32% in just a year.

• Salesforce’s struggle: Stock plunged after weak Q1 results.

• AI startups are rising: OpenAI is cashing in billions, while Oracle benefits from AI partnerships.

• VC shift: Venture capitalists are moving away from SaaS, with fewer deals than in years.

Here’s the whole article

1. Be careful of who you listen to.

This is one of the best tweets online. People tend to take advice from everyone, which you shouldn’t. Taking SaaS advice from people without a background in SaaS will often give devastating advice. 

It’s like taking dating advice from my single friend who still thinks texting 'hey' at 3 am is a good move.

Here’s the tweet

2. A simple strategy to make $20K/month with a micro saas

The headline itself tells what this tweet is about. 

The 2 advice he gave:

1. Don't build for "anyone"

2. Charge 76% less than your $1B competitor:

He showed it with examples.

Here’s the tweet

1. Temenos strengthens its commitment to SaaS and the US with key executive appointments.

“I am thrilled to join Temenos as we embark on our growth journey. I can’t wait to share with our customers how our innovation and technology can support banking institutions of all sizes and backgrounds, from major banks to digital ones.” - Isabelle Guis.

2. Australian travel tech firm secures $2m for SaaS solutions.

Earlier this month, Tour Amigo, an Australian travel tech company, secured US$2 million in seed funding led by Singapore’s Wavemaker Partners, with participation from VC firm 500 Global.

The firm plans to launch SaaS solutions for destination management companies, independent travelers, and group operators.

3. Queens’s Award-winning accounting group snapped up by US SaaS company.

A Worthing-based provider of client accounting outsourcing for the lettings industry is to be acquired by Lofty Inc., a subsidiary of Moatable, a US-based SaaS company.

Founded in 2006, the company won the 2021 Queen’s Award for Enterprise in the innovation category and, in 2022, gold in The Negotiator Awards for ‘Supplier of the Year: Services and Products’.