Clouded Judgement

The article analyzes macro inflation trends and their implications for software valuations, arguing that despite Q1 2022 tech selloffs, public SaaS companies remain attractive investments given their deflationary product offerings and strong unit economics. The author presents a bottoms-up CPI analysis suggesting inflation may have peaked, and benchmarks current SaaS trading multiples against private equity acquisition prices, demonstrating public market software opportunities at compressed valuations relative to growth fundamentals.