The Ghost of Software Future

In February of this year, an obscure research report triggered a $1 trillion wipeout in software stocks in seven days. In this episode we decipher what actually happened — and why AI is more likely to be a gift to enterprise software than a death sentence. Devin and Jim have invested through every major tech transition: PCs, client-server, the browser, mobile, the cloud. This time, they're breaking down the four bear cases for enterprise software (private credit, seat licensing, vibe coding, the AI bubble) and sharing what's actually happening inside their portfolio. The ghost shows up every decade. Here's how not to get spooked. READ: "The Ghost of Software Future" on Substack

You can listen to The Ghost of Software Future online on Radio and Podcast. Open the player on this page to stream the available audio.

The Ghost of Software Future is an episode from Private Equity Funcast by Jim Milbery.

This episode is 01:30:49 long.

This episode was published on Apr 8, 2026.

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