Software’s getting absolutely wrecked and yeah, it feels brutal. But this isn’t some mystery crash. Investors are done overpaying for “growth someday” stories. If a company can’t show real cash flow right now, it’s getting smoked. Names like $CRM, $SNOW, $NOW are all feeling that heat. Doesn’t mean software is cooked. It just means the free money era is officially dead. Strong players will bounce back. The hype-only stuff probably won’t. If you’re already in, don’t rage-sell quality just because the screen’s red. If you’re looking to buy, slow down and be selective. This is a shakeout, not the end of the game.