REVENUE DURABILITY IS FAILING IN THE AGE OF AI

Summary from the TLDR Founders newsletter

Every VC, PE firm, and public market investor is circling the same question in 2026: Is this company's revenue actually durable? The answer is crushing valuations, freezing M&A, and making fundraising brutal. Bill.com dropped from 90% growth to 12%. Snowflake fell from 73% to 26%. The uncomfortable truth is that nobody has real confidence that software revenue will hold up over the next decade, and that uncertainty alone is enough to reshape how every founder thinks about pricing, retention, and defensibility.