February 6, 2026· 33 min

Lots More With Charlie McElligott on This Week's SaaSpocalypse

Charlie McElligott

Orality

Model

82%

Speaker Breakdown

HostTracy Alloway(700 words)

M:56%

HostJoe Weisenthal(581 words)

M:54%

GuestCharlie McElligott(4,861 words)

M:54%

Oral Indicators

Agonistic31%

huge, basically, amazing

Engagement72%

you, your, you're

Memory Aids100%

so, like, right

Repetition100%

know (146x), like (125x), it's (70x)

Parallelism71%

So if you need a last minute p..., And we really do have a perfec..., But it is weird, isn't it?...

Sound Patterns100%

83 question(s), alliteration: "when work", alliteration: "transfer times"

Formulaic Phrases6%

at the end of the day, i mean

Literate Indicators

Hedging7%

might, maybe, could

Passive Voice5%

be simplified, being attributed, is when

Abstract Nouns25%

management, business, presentation

Subordination9%

because, although, while

Sentence Length27%

Avg: 11.8 words/sentence

Word Complexity47%

management, business, empower

Academic Markers0%

Impersonal Style28%

497 personal pronouns found

Descriptive Style74%

internationally, apply, luckily

Description

This week has been a pretty wild one in markets. Some of the most popular trades of recent years — like going long software, crypto, or gold — suddenly collapsed. Of course, there are plenty of things you can point to as the proximate cause of the selloff. AI is now an existential threat to SaaS. Bitcoin has seen some unflattering headlines. The nomination of Kevin Warsh as the next Federal Reserve chair stalled the debasement trade. But the way the market functions has also changed enormously, arguably leading to faster and more violent moves. On this episode, we catch up with Charlie McElligott, cross-asset macro strategist at Nomura, who explains just how much market mechanics have shifted, and talks about the flows and positioning he's seeing right now. See omnystudio.com/listener for privacy information.

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