Seat-based vs consumption software stocks diverge; value prop, not pricing, is the real issue
matt_slotnick · x · 2026-09-04
A chart from Emergence Capital shows public-market divergence between seat-based and consumption-based software stocks. Matt Slotnick argues the cause is structural: infrastructure prices on consumption while application software prices on seats — so this isn't a pricing-model question but a product-category value-prop question.
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