# De-SaaS

One Nomination, Many Aftershocks: How a Fed Pick and AI Fears Unleashed a Market Reset

Kevin Warsh’s nomination as Fed chair shocked markets by shifting expectations on monetary policy, triggering a dollar rally and deep declines in gold, silver and bitcoin. But the sell-off also reflected a broader reassessment of tech valuations as agentic AI threatens traditional SaaS economics and forces enormous corporate AI capital spending.