"SaaSpocalypse"? Real. "SaaS Is Dead"? SaaSinine. $300 billion vanished from software stocks in a week. The market is panicking about the wrong thing. On Monday morning, $300 billion disappeared from the market, and software stocks began a free fall. Atlassian down 35%. Salesforce down 26%. The iShares Software ETF has shed 30% from its late-2025 highs. Pundits are calling it the "SaaSpocalypse." LinkedIn is full of hot takes declaring SaaS dead. In my not-so-humble opinion, they're late to the party and worrying about the wrong thing. The catalyst? Anthropic released eleven open-source plugins for Claude Cowork on January 30, targeting legal, sales, marketing, finance, and data analysis workflows. It was the first time a major AI lab moved directly into vertical enterprise applications. The market looked at that, looked at per-seat SaaS licensing models, and did the math on what happens when AI agents do the work of ten humans and you only need one seat instead of ten [1].…