Scott Galloway tells his fraternity-bound son to know his alcohol limits, never choke a partner, and be sober the first time he is intimate.
Galloway attributes the SaaS selloff to terminal-value fears and notes Intuit is down 55% despite 14% revenue growth.
Galloway says BLS jobs data is hard to fake, though response rates fell from 66% to 35%.
Software Selloff Fades as AI Fears Prove Overblown
News
Software selloff fades as SaaS stocks rebound. The selloff erased nearly $1tn in software value by early February, but Stripe's SaaS index shows growth above 30% and the software ETF rose 17% in Q3. Galloway says the selloff is about terminal value rather than cash flows.
OpenAI launches Dots agents across 4,000 apps. Dots are AI agents that operate around the clock across more than 4,000 apps and are being piloted for procurement, invoicing, support and contracts. OpenAI launched a marketplace the same day with 32 partners including Salesforce and Adobe.
OpenAI revenue reportedly nears $70bn run rate. OpenAI's recurring revenue is reportedly reaching $70bn, and its enterprise sales have reportedly more than doubled since July.
Meta's enterprise AI platform dents Salesforce. Meta announced its own enterprise AI platform on September 28, sending Salesforce down almost 5% while Meta surged, a milder reaction than OpenAI's Dots launch drew.
AgentForce hits $1.5bn in recurring revenue. Salesforce's agent product is at $1.5bn in annual recurring revenue, up 240% from a year ago. The share of companies spending at least 5% of their tech budget on AI rose from about 12% to more than 60%.
Intuit falls 55% despite revenue growth. Intuit is the clearest casualty in the S&P 500, down about 55% this year even as revenue grew 14%.
CIOs would cut services budgets to fund AI. Jefferies found 71% of information officers would cut IT services and systems integrators to pay for AI, while cybersecurity faces no cuts at all.
Trump fires BLS chief after weak jobs report. Trump fired BLS commissioner Erika McEntarfer in August 2025 after a weak July report, accusing her of bias without evidence. His pick EJ Antoni withdrew after bipartisan backlash and Brett Matsumoto, a career economist, was confirmed.
BLS overcounts jobs as response rates fall. The bureau overcounted job growth by about 860,000 in the year to March 2025. Response rates fell from 66% in 2016 to 35% last December and funding is down more than 22%. Galloway's verdict on trusting the numbers is mixed.
Tap a name to go there · tap a line to see why they are linked