Articles

The SaaS Crash Isn’t About AI Replacing Software. It’s About Software Finally Being Asked to Prove It Worked.

In the first quarter of 2026, something happened to enterprise software stocks that had never happened before: the forward earnings multiple on the average listed software company fell below...

The $725 Billion Question Big Tech Doesn’t Want Boards Asking: How Long Does a GPU Actually Live?

Every CEO who has ever sat through a capital allocation review knows the quiet power of a single...

Return-to-Office Was Never a Culture Policy. It’s a Leverage Test, and the Results Are In

Every return-to-office mandate issued since 2023 has come wrapped in the same language: rebuilding culture, sharpening collaboration, restoring...

SpaceX’s $1.77 Trillion IPO Wasn’t a Democratization of Ownership. It Was the Final Markup Before the Correction.

On June 12, 2026, SpaceX priced its initial public offering at $135 a share, valuing the company at...

Shadow AI Was the Warning. The Real Risk Is a Workforce of Agents No One Supervises

Every CISO has a version of the same story by now: someone in finance pasted a draft term...
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India’s Cheapest Labour Is Now Training the Robots That Could Replace It

In a data-annotation centre outside Bengaluru, a worker earning perhaps $30 an hour puts on a haptic glove and teleoperates a robotic arm through...

The Carbon Border Was Never a Tariff. It’s a Sorting Machine, and Most CEOs Are Reading It Wrong.

On January 1, 2026, the European Union's Carbon Border Adjustment Mechanism quietly entered what Brussels calls its "definitive regime." No ribbon-cutting, no market panic,...

India’s GCCs Have Stopped Being Back Offices. Most Boardrooms Haven’t Adjusted the Org Chart.

A decade ago, if a global bank's India centre wanted to change how a product worked, the request went into a queue in London...

Private Credit’s First Real Stress Test Is Exposing a Risk CEOs Never Priced In

For a decade, private credit sold itself to chief executives on a simple promise: capital without the theatre. No earnings call to survive, no...

Harvest Now, Decrypt Later: Why Waiting for Q-Day Is Already Too Late

Somewhere right now, encrypted files are being copied off a bank's servers, a pharmaceutical company's research network, or a defence contractor's design database —...

The Seat Is Dead: How Agentic AI Is Forcing a Once-in-a-Generation Repricing of Enterprise Software

For thirty years, buying enterprise software meant answering one question: how many people need a login? Salesforce, Workday, ServiceNow, SAP — the entire architecture...
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