A16Z: Understanding SAAS and why the pundits have it wrong

Repost of

https://news.ycombinator.com/item?id=7738602

from 8 hours ago.

Also, posted in the earlier thread, there was also a podcast:

https://soundcloud.com/a16z/a16z-podcast-valuing-todays-fast...

It looks like life time value is the largest unknown. Especially, the churn rate.

Some companies like Workday are harder to replace, but some like Box are vurnable to being replaced by consumer/add-on (Dropbox/Google Drive).