Green shoots for software companies

INSUBCONTINENT EXCLUSIVE:
Looking for good news despite all the market gloomHello and welcome back to our regular morning look at private companies, public markets
You can even use the term sarcastically, perhaps noting that unemployment claims, while still elevated to historic levels, are falling on a
week-over-week basis: Only 2.5 million jobs lost last week! #greenshootsYou get the idea
At the end trading yesterday, the Bessemer cloud index had recovered to around a 10% decline, in total, since the start of the COVID-19 era
Given that the same basket of cloud and SaaS companies was down as much as 37.9% at its 2020 low, its recovery has been little short of
churn
TechCrunch has covered the issue, asking venture capitalists and doing various surveys of founders about what they are seeing in the market
The results are cautionary, with one survey indicating that three-quarters of founders expecting to see their net retention rates falling