So recently, it's not just software as a

service stocks going down, but

everything related to software is going

down. Even financial stocks, cyber

security stocks, payment technology

stocks, and even private credit is going

down. So what's going on? Is the world

as we know it coming to an end? Or is

this another great investment

opportunity? Let me break it down.

Service Now, Salesforce, Palo Alto,

Crowd Strike, Visa, Mastercard, S&P

Global. These are some of the highest

quality businesses in the world that

have been compounding machines for

decades. But recently, this year,

they've been collapsing double digits.

Why? Because there's now a widespread

panic that Agentic AI could put all

these great companies out of business.

and change the world as we know it

forever. So, is this fact or is this

fantasy?

Well, let's find out what this is all

about. Now, all this started when

Anthropic released Claude Co-work. In

case you don't know, Antropic is the

major competitor of OpenAI. Now, who

owns Anthropic? Well, their major

shareholders are actually Amazon,

Google, and Microsoft. That's right.

Microsoft is two timing. They own both

Open AI and Anthropic. And Anthropic has

a very powerful large language model

called Claude, which I use by the way. I

think they are very good for financial

stuff, right? So, a couple of weeks ago,

they launched Claude Cowwork, which is

an agentic AI tool that allows the AI to

read and write to your files in your

computer. It autonomously breaks down

complex work into smaller tasks and can

generate Excel, spreadsheets, PowerPoint

presentations, and formatted documents

autonomously. In fact, I'm using it a

lot uh in my own work. But what spooked

investors is that it also shipped

pre-built plugins spanning HR, design,

engineering, operations, and financial

analysis. In other words, it's like an

agent that can do all these things for

you. For example, in the in the context

of HR, Claude Co-work can autonomously

uh screen resumeums. It can draft

onboarding documents. It can organize

employee records for financial analysis.

It can pull data from all kinds of

sources from fact set from S&P Global,

from Bloomberg. It can synthesize

reports and build Excel models in

seconds. In terms of operations, co-work

can organize files. They can generate

status reports. They can process

documents again in in in minutes. Now,

you saw how fast I was able to generate

that Excel table from a clot. what would

normally take many many hours took less

than 5 minutes. So the market is kind of

like freaking out saying that if now

people can generate so much productivity

they can do so many things autonomously

then they don't need all these software

companies anymore. They don't need

Salesforce. They don't need Service Now.

They don't need Adobe. They don't need

into it because we can do everything

ourselves

within minutes uh for for like $50 a

month or even less. Now to me that

sounds really far-fetched. It sounds

ridiculous. It's like saying that

someone invented a microwave oven so I'm

never going to a restaurant anymore.

That all restaurants will be destroyed.

No more restaurants in the world. It

sounds ridiculous, right? But then it

spread not just from software companies

per se, but it spread to financial data

companies where people are now saying

that with Claude it can pull all this

information, it can generate all this

financial analysis. Why do I need

Bloomberg? Why do I need S&P Global? Why

do I need Moody's? Why do I need Fax?

And so all these companies are going

down double digits as well. And then

private credit companies, BDC's that

lend money to these software companies,

they're now saying that they're not

going to get their money back, right? So

all these private credit companies, even

the good ones, the high quality ones

like Apollo and Blue Owl and Aries, they

all collapsing as well. And then

recently this spread to cyber security

companies. Why? Again, it's all Claude's

fault because recently Claude released

this thing called Claude Code Security

that's able to scan databases, code

databases and find bugs in the system

and patch those bugs automatically. So

now people are saying, "Oh, with that I

can secure my own database. I can secure

my own company with clawed security. Why

do I need to pay money for Palo Alto or

Crowd Strike or Forinet? They all going

to die. All these companies are all

dropping like they're worth nothing. And

again, that sounds ridiculous. That's

like saying that someone invented a home

alarm system. So guess what? We don't

need the police force anymore. Defund

the police. Again, that sounds

ridiculous because again, claw code

security. Yes, it can scan for bugs in a

database, but it can't protect your

company in live environments the way

that Crowd Strike or Palo Alto can where

it can detect hackers uh in your

computer system where it can stop

ransomware in real time. And then to add

to the fear, Citrini Research, they

published this article that went viral.

And the summary of the article is that

we're all going to die, right? So what

it's saying is that in the next two

years AI agents are going to cause a

massive displacement of white collar

workers. Millions of people will lose

their jobs. The unemployment rate will

go to more than 10%. And with people

having no jobs, they can't spend money.

Consumption drops and so the economy

will go into a severe depression and

companies will not be able to make much

money as well because they can't sell to

anyone because no one's buying. And so

they're going to lay off even more

people. They're going to use even more

AI to automate and it's going to be a

vicious cycle that leads to the end of

the economy as we know it, right? And

the other thing that they said is that

in a few years we are going to use AI

agents to do all our buying and all our

buying online autonomously. So imagine

you and I we no longer go shopping. We

no longer buy things online. We t our

agents that will go out there. It will

book hotels, book restaurants, it will

go online shopping. It will pay our

insurance autonomously without us

intervening and it will always find the

cheapest price. So companies will their

margins will all collapse and these

agents because they want to have the

best deal, they will route all our

payments through stable coins and bypass

the traditional Visa Mastercard rails

network. And in fact, people took it

seriously. And that's why Visa,

Mastercard, American Express crashed

because of this article. So, is this

fantasy or reality? I think it's all

fantasy. For example, my wife loves the

process of shopping. Do you think she's

going to get an agent to go and buy the

cheapest clothes for her? No way. Right?

But all kidding aside, Visa and

Mastercard, they don't just move money.

I mean, there are many ways to move

money, right? But the reason banks and

merchants they use Visa and Mastercard

is because of the trust factor 60 years

of trust that's built into their payment

technology that creates this compliance

infrastructure. They are able to detect

fraud in payments. There's dispute

resolution and all these things that

stable coins they don't provide.

Remember there's always a big gap

between narrative and actual real world

deployment results. In fact, there was a

study a rigorous randomized control

trial by METR, the model evaluation and

threat research, which is a nonprofit

research institute based in Berkeley.

They found that when 16 experienced

open-source developers use used AI

tools, they actually took 19% longer to

complete the coding task. Why? Because

yes, AI accelerates the code generation.

AI can write code very fast. It can

create Excel templates very fast like

what I showed you. But code review

capacity remains flat which means humans

must still review the code. They must

still review the results of the output

and that creates a review bottleneck

where cues will grow and deployment

delays increase and productivity gains

that were there initially actually

evaporate. In fact, Google's own report

found that every 25% increase in AI

adoption showed a 1.5% dip in delivery

speed and a 7.2% drop in system

stability. So, you still need humans to

to review the data. And I showed you

earlier how fast it was to create that

Excel spreadsheet, but you can bet

there'll be hallucinations. There'll be

inaccuracies. I still have have to

manually review it, my team to review

it, right? And if you don't know, a lot

of companies are actually quietly

rehiring the workers they fired because

of the AI excuse. For example, Clarona

replaced 700 employees with AI, but

their quality of work declined.

Customers complained and they had to

rehire back the humans. IBM laid off

8,000 workers to implement autom

automation, especially in their HR

division, using an AI robot instead. But

the bot was unable to perform task

requiring empathy and subjectivity and

eventually they rehired the HR workers

back. Textport and Forester predicted

that half of AI attributed layoffs will

be quietly rehired finding that 55% of

companies that executed AIdriven layoffs

now regret it. And I actually asked my

own staff this question. So I own

several companies. the main companies,

Adam Cool Learning Technologies Group,

we've got Pyana Profits, we've got

Activate Education, we've got growth

catalyst. So I am a co-owner of all

these companies and we've been doing

this for over 20 years and I recently

asked my group CEO and my managing

director of Pirana Profits, I say, "Hey,

we are using AI all the time. We use

agentic AI. We use generative AI in in

our companies. do we foresee reducing

our staff headcount over the next three

to five years and they said Adam no in

fact business is doing so well we're

growing so much that we need to hire a

lot more people right so I don't buy

that narrative that AI will replace many

many workers because if the business

does well that you still need workers

because AI is there to complement and to

augment our work so it's like the old

saying AI to me AI will not replace may

not replace you but someone who knows AI

will replace you in your job okay but

you can't dispute the fact that job

growth has been anemic especially in the

US so for example they just did the jobs

revision and they found that the total

new jobs last year in 2025 after

revision was only 181,000 jobs created

That's very very low. Compared to 2024,

there were 1.4 million jobs created. So

last year the job creation was the

weakest job growth since co. Well, a

spark of good news is that the latest

report showed that in January this year

2026 uh job growth has jumped again

130,000.

So what are the real culprits for the

weak job growth? It is not actually AI.

So what has been found is that companies

that have been laying off workers and

not hiring workers, they've used AI as

an excuse, but it's not AI, at least not

yet. But the three real reasons for weak

job growth is

trade policy uncertainty because of

tariffs. Number two, immigration

collapse, shrinking the labor supply in

the US, and the Deutsch and federal

government cuts. These are the three

real reasons. There are no signs of

largecale job displacement due to AI.

Well, at least not yet or not for the

foreseeable future. Although again, jobs

with more AI exposure has seen slower

job growth. So in a nutshell what I'm

saying is that this panic selling of

great companies like Microsoft, like

Salesforce, like Service Now, like Palo

Alto, like like S&P Global. It's the

same as past sell-offs. It is

irrational. It doesn't really make

sense, which is good for investors

because like Charlie Manga said, the

reason we are so rich is because people

are so often wrong. The reason I've been

able to make so much money over the

years is because of the shortsightedness

and the stupidity of the market. Now,

not too long ago, if you remember,

actually it was quite long ago. It's

been seven years. COVID was seven years

ago. My god, how time flies. If you

recall, seven years ago, uh when COVID

struck, the IMF chief said that the

pandemic will unleash the worst

recession since the Great Depression.

And what did people do? a panic from the

narrative. Oh my god, WE'RE GOING TO

DIE. SELL, RIGHT? They dump all their

stock and they thought the world as we

knew it was going to come to an end. And

if you recall, which were the stocks

that were doing well? Zoom, right?

Because they said, "Hey, no one's going

to the office anymore. We're all going

to to to to meet via Zoom and everyone's

going to stay at home and they're going

to exercise using Pelatin

um the exercise equipment." That was the

narrative. But what has happened today?

Oh, by the way, they said that

commercial real estate will collapse.

Banks will collapse, right? What

happened? No, there was no depression.

Banks have done very well. Real estate

has recovered, especially REITs have

recovered significantly. And Zoom and

Pelatin have collapsed. So, the same

thing is happening right now. It's the

same fear, the same narrative. So, have

I been buying recently? Yeah, you bet.

Almost every single day, I've been

buying stocks of great companies in the

market. Now, as always, I can't always

predict the exact bottom of a correction

or of a pullback. And so, I buy slowly

in trenches. And this is not a

recommendation or advice for you to buy

because we have got different financial

objectives. We've got different time

horizons. I've got a long-term time

horizon. Even if it drops more in the

short term, it doesn't bother me when I

buy great companies because I know over

time these companies will rebound back

to new highs and continue compounding

for decades to come. So, what are some

of the companies I've added? Well,

obviously the no-brainer is Microsoft.

Duh. Okay. Now, there have been fears

that uh Open AI that owns Chat GPT, they

could be in trouble, right? They're

trying to get an IPO to raise funds, but

they're burning so much cash. So, is

there a possibility that Open AI could

go bust? Well, I think yes. In fact, I

won't be surprised if Open AI doesn't

really work out. But I don't think

they're going to go bust. What's going

to happen is they're probably going to

be taken over by Microsoft where

Microsoft will absorb all their

intellectual property and so and so

forth. And yes, Microsoft will take a

hit. They will take a loss. And will

there could there be a short-term drop

in the share price if that happens?

Yeah, possibly. But in the long run,

they will benefit from it. And

ultimately, if Anthropic, for example,

you know, and Gemini kills open AI,

which I think is possible, I don't

really care. Why? Because I own Google

that owns Gemini. I own Amazon. I own

Google that also owns Anthropic. So in

other words, whoever wins,

I win. Okay. But I think the company

that could be the most affected if Open

AI goes down is Oracle. Uh because

they've got very high debt and a lot of

exposure uh to OpenAI. Will Nvidia be

hit? Yeah. But it won't be hit that

hard, right? They may take a bit of a

write off. Uh their investments are a

few billion. Nothing to them, right?

they can always sell the capacity

elsewhere. But anyway, so that's another

reason why Microsoft has been going down

the fears that OpenAI are in trouble,

which I don't dispute. I think they're

in trouble because personally for me, I

don't use Chat GPT anymore. No, I use

Claw. I use Gemini. All right, because

they they are more powerful. So anyway,

all right. But I I've been buying

Microsoft because I think at this price

it's it's a really good deal. But again,

could it go even lower? Sure, it is

possible. So I buy in trenches. I buy

slowly and I've got a lot more that I

could buy in the later part of the year.

So, currently Microsoft's intrinsic

value is $557,

is selling at $400

and is currently uh under undervalued.

And you can see that it's a great

business, right? Extremely predictable,

extremely profitable. You know, it's got

one of the strongest modes in the world

and one of the strongest financial

strengths, right? I've also been buying

Palo Alto which of course is the company

that has got the strongest mode and

leadership in the cyber security

industry.

So I asked myself this question over the

long run is cyber security a growth

industry? Does every company in the

world big and small needs cyber security

to prevent against hacking and

ransomware? The answer is yes. Right? So

I definitely want to have a big position

in cyber security companies and I want

to buy the strongest ones. What are the

strongest ones? Palo Alto is one of

them. Of course, Crowd Strike. You know,

I would love to buy Crowdstrike because

it's dropped quite a bit. But I haven't

guessed why because it is still

overvalued, right? Oh, it went slightly

undervalued right now. Hey, sorry. This

is Nvidia. What am I talking about?

Crowd Strike. My bad. Oh, Nvidia just

announced great results and uh the stock

I think went up slightly right now. Look

at Crowdstrike. I love Crowd Strike.

Great company. I do own shares in it. I

want to buy more and it's dropped uh

it's dropped quite a bit because of this

narrative but not really enough because

again the intrinsic value is 332

and right now it's the share price is

still above the intrinsic value. Well,

in a way, there's nothing to wrong to

buy now because you're paying fair

price. Uh, but you know, for me, I'm

very conservative. I like to buy it if I

get a bigger discount. So, I've been

selling cash secured puts on Crowd

Strike and hoping that Crowd Strike

could go lower and then I I get assigned

the shares because I like this company.

But currently, it's it's not not that

cheap even though it's dropped quite a

bit. What are other companies have

dropped a lot? Um, Amazon has dropped

but that has rebounded a bit. Meta has

dropped a lot. That's really undervalued

as well. But more connected to this

selloff, obviously it's a software

companies like Service Now, which I've

covered in my previous video. This is a

great company. All right. And I think

that ultimately they're going to be one

of the biggest beneficiaries

uh of AI. And look at it. It's now

selling at freaking half price, right?

It's it's 206 valuation. It's selling

$104. And look at it. It's got one of

the strongest fundamentals out there.

Again, this is not a recommendation for

you to buy. This is sharing about my

thought process of how I analyze

businesses and my own investments, which

again, I'm investing in these over the

long run. It's not a short-term trade.

So, short-term, it could still go lower.

That's why I dollar cost average. I hope

this video has been useful to clarify

and to bring some sanity to you in a

time when it may not make sense. It's

like, you know, all these are great

companies. Why are they dropping?

Doesn't make sense. Well, I hope that

now you understand. So, stay safe and

stay rational and may the markets be

with you. If you want to catch my latest

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more about how you can learn investing

and trading live online. This is Adam

Coup and may the markets be with