$GOOGL - Google is undervalued and will benefit from companies building internal tools instead of paying for SaaS, increasing their margins and profits.
$META - Meta is caught up in broader tech selloff but fundamentally strong, will benefit from AI-driven internal tool development replacing expensive SaaS.
$INFRA - Data center infrastructure ownership makes sense for vertically integrated tech giants who can extract full optionality from assets during supply/demand cycles.
$HYPE - Hyperliquid is generating real revenues and trading as much volume as Coinbase but valued much lower.
Bearish:
$CRM - Salesforce will lose customers as companies build their own internal CRM tools using AI, eliminating need for expensive SaaS.
$SAAS - The 'SaaSpocalypse' is happening as AI enables companies to build internal tools instead of paying for expensive SaaS subscriptions.
$COREWEAVE - CoreWeave is essentially a landlord for rapidly depreciating chip assets without the vertical integration to extract full value.
$COIN - Coinbase is imploding while competitors like Hyperliquid are matching their volumes at much lower valuations.