Wall Street is lumping all software stocks together and selling them off. That's a mistake. I walk through the 4-box checklist I use to find the software stocks that will actually recover — and which ones to avoid.

0:00 — Snowflake replaces Salesforce CRM, saves $5M/year

01:22 — Wall Street lumping all software into one basket

02:17 — Software stock charts breaking down (Salesforce, ServiceNow, Adobe, Trade Desk)

04:08 — The vibe coding bear argument

06:22 — Why Wall Street is making a big mistake

08:02 — Legacy software vs. the new infrastructure layer

10:16 — Software that actually does the work vs. UI software

15:08 — Snowflake proves growth without headcount (30% revenue growth, +37 employees)

17:39 — "Growth is no longer tied to headcount"

23:02 — The 4-Box Checklist begins

24:18 — Box 1: Where does the software live in the stack?

28:01 — Box 2: Is AI adoption accelerating?

31:21 — Box 3: Is revenue decoupling from headcount?

34:03 — Box 4: Does the chart confirm it?

40:54 — Recap and key takeaways