Bullish and bearish opinions expressed in this episode, paired with supporting transcript quotes. The quote confirms what was said—not whether the opinion is correct.
Bullish
$WORKDAY— Mitchell believes incumbent software companies like Workday have strong competitive advantages with high retention rates and significant barriers to switching.
$SOFTWARE— Mitchell sees the best risk-adjusted returns in public software companies as the market has become overly fearful of the sector.
$INFRA— Mitchell finds infrastructure software companies fascinating due to their consumption-based models benefiting from AI agent usage.
Bearish
$PE— Mitchell worries that over-leveraged private equity owned software assets are cutting innovation and becoming ripe for disruption.
$AIMODELS— Mitchell believes AI models will commoditize and the current AI CapEx bubble will end badly, similar to the telecom bubble.