Software valuations
Tracks revenue and cash-flow multiples across public software companies, showing how market pricing differs across growth categories.
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Perimeter Reading / Investing
Clouded Judgement
Jamin Ball
Jamin Ball's weekly analysis of AI and software companies pairs industry commentary with valuation comparisons and operating metrics for publicly traded cloud businesses.
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The publication
What to expect.
Clouded Judgement offers a recurring view of public software companies through both narrative and numbers. Jamin Ball begins with an industry question, then follows with valuation multiples, share-price comparisons, operating statistics, and company data. The underlying interest is how growth and business performance relate to market expectations. Its consistent format makes the archive useful for comparing successive periods. Read the methodology alongside the tables, since definitions, peer groups, and growth assumptions determine what a comparison can tell you.
Who it’s for
Software investors and founders who want recurring public-market benchmarks and a clearer connection between SaaS operating performance, growth expectations, and the valuations investors assign.
Inside the reading
Its areas of focus.
Operating benchmarks
Compares growth, margins, retention, and customer acquisition measures to place software company performance in a broader peer context.
AI and cloud
Offers a venture investor's interpretation of current AI and cloud developments before returning to the recurring company data.
The Desk’s reading note
Make the read useful.
Compare the same metric across several issues and check its definition before treating a weekly movement as a business trend.
Keep a question, an idea to investigate, or a source to return to in your saved notes.
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