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Large language models (LLMs) are already affecting how software businesses are valued — but the impact is not uniform. Doug Lawson from Mark2Market breaks down which categories of software are most exposed to AI substitution, which are more insulated and what that means for valuation today. Doug Lawson — CEO and Co-founder of Mark2Market. Hosted by Hardman & Co. Part 2 of 4. Watch the full series: https://www.youtube.com/playlist?list=PLuaVVfQg5eE8htrXgxEz3OTaj-lUyL4pt Important notice: This content has been prepared purely for information purposes, and should not be construed as an offer, or the solicitation of an offer, to buy or sell any security, product, service or investment. The companies or legal entities covered in this content may or may not pay us a fixed fee for this content to be made available. Investments in small and mid-cap corporations and foreign entities are speculative and involve a high degree of risk. An investor could lose all or a substantial amount of his or her investment, and the securities or legal entities mentioned in this content may not be suitable or appropriate for all investors. Each investor’s particular needs, investment objectives and financial situation were not taken into account in the preparation of this content. Each investor must make his or her own independent decisions and obtain their own independent advice regarding any information, projects, securities, tax treatment or financial instruments mentioned herein. The fact that Hardman & Co has made available through this content various information constitutes neither a recommendation to enter into a particular transaction nor a representation that any financial instrument is suitable or appropriate for you. Each investor should consider whether an investment strategy of the purchase or sale of any product or security is appropriate for them in the light of their investment needs, objectives and financial circumstances. For more information, please read our full disclaimers: www.hardmanandco.com/research-disclosures www.hardmanandco.com/disclaimer SaaSpocalypse AI impact on SaaS software valuations 2026 LLM disruption SaaS multiples AI substitution private company valuation UK tech M&A
