Marathon's Richards on Software Lending and Defaults
Bloomberg Television·2026-03-04 17:27
Back in 2014, a new technological change happened for oil and gas. It's called horizontal drilling or fracking. And that technological change did a couple of things.Number one, it changed the pricing structure for all gas and all gas services would work. And number two, based upon all the capital that was raised. Now all of a sudden, capital dried up because the pricing structure collapsed.And so what we have in software is very similar. We have a technological change which is forever going to change how so ...