Ep 219: Qiao Ma - Is SaaS Dead? The Structural Shift in Growth Investing
From Inside the Rope with David Clark by David Clark
March 30, 2026 · 1h 4m · Season 1 · Episode 219
About this episode
David Clark interviews Qiao Ma about the impact of AI on growth investing and the future of SaaS.
With AI reshaping industries at a speed few investors have experienced before, many portfolios are caught between fear of missing out and fear of overpaying. Which businesses will genuinely benefit, and which are simply riding the narrative? In this episode, David Clark sits down with Qiao Ma , Portfolio Manager at Munro Partners, to unpack how professional investors are navigating one of the most significant structural shifts in decades. From tearing apart iPhones to identify supply chain winners, to applying the same thinking to Nvidia and the AI ecosystem today, Qiao shares a disciplined framework for cutting through the noise and focusing on what matters: earnings, durability, and valuation. For investors trying to make sense of AI, software disruption, and shifting market leadership, this conversation offers clarity grounded in real-world portfolio decisions. Key Takeaways: AI is not optional : Every investor now needs a view. Sitting on the sidelines is no longer viable. Follow the economics, not the hype : Real winners are already generating earnings today, not promises of future growth. Look beyond obvious names : Supply chains and infrastructure often capture more…
People in this episode
Host: David Clark
Guest: Qiao Ma
Topics covered
- AI
- SaaS
- growth investing
- portfolio management
- software disruption
- valuation
Keywords
- AI
- SaaS
- growth investing
- portfolio management
- valuation
- software disruption
- Nvidia
Mentioned in this episode
Organizations: Munro Partners
Products: iPhones, Nvidia, AI, SaaS
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