AS VMS HYPE CONTINUES, WHAT WILL BE IN VOGUE IN 2025?

Summary from the TLDR Founders newsletter

Despite the AI threat, the boom in Vertical Market Software rollups persists into its 5th year. Success requires a clear strategy: tightly integrated thematic acquisitions or decentralized capital allocation. Hot niches include vendor app marketplaces and cloud "hyperscaler" plugins, while horizontal SMB software faces disruption risks. The marginal VMS aggregator is often founded by ex-investors lacking operating experience, a risky approach.