Private Markets Push for World’s Wealthy Runs Into AI Meltdown

The article discusses the private markets' efforts to attract the world's wealthy investors, which have recently encountered a new challenge - the "SaaSpocalypse." Private market salespeople are skilled at addressing concerns about opacity, liquidity, and valuation, but the recent turmoil in the software-as-a-service (SaaS) sector has added a new layer of complexity to their pitch. The "SaaSpocalypse" refers to the significant decline in the valuations of many SaaS companies, which has led to a broader sell-off in the tech sector. This has raised concerns about the accuracy of valuations in the private markets, where many alternative assets are tied to the performance of the tech industry. The article suggests that the private markets' push to attract wealthy investors is facing a new obstacle as they navigate the fallout from the "SaaSpocalypse" and try to reassure investors about the stability and reliability of their offerings.