Everyone knows and loves Packy. I find his newsletter is very popular amongst crypto-focused venture capitalists. Love the humor infused into his work.
• Stratechery
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• Who Is Nnamdi
• Investing 101
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17/ This is a curated list from my network.
Writing about tech is hard, so I appreciate each writer's intellectual honesty and thoughtfulness.
Beyond the smart people reading their work, I know many of the individuals on this list, and they are all kind humans to follow.
- $FTNT is most synonymous w/ $ZS on network security or cos signing large contracts
- Longer sales cycle appears to be a theme in Q2 (so far)
- Customers are delaying their purchasing decisions
- Companies are guiding for a much lower Q3.
Over the past year, I've spent lots of time on the cybersecurity ecosystem.
There is evidence to suggest Cybersecurity will be one of the strongest software sectors that emerges post this bear market.
These are a few data points that back up my thesis: 1/
2/ First, let's begin with current data.
Despite the massive tech correction, Cybersecurity tech stocks continue to trade at a premium level to the rest of the tech sector. Go and see the YTD performance of $PANW, $FTNT, etc.
What is driving this?
3/ Fundamentals/financials of these cos have remained resilient against any growth slowdown.
Q1 results amongst SaaS companies saw security companies have the highest beat rates and the rarest slowdown.
A key reason is that IT budgets continue to rank security as a priority.