The valuation of the companies is not necessarily great evidence that it's a fertile market; it's pretty saturated. The problem is most people don't need a new GitHub or Visual Studio because theirs works just fine and everyone else also uses it, so it's easier to just do that.

And sure, a billion dollars is an unfathomable amount of money to the average person, and a handsome exit for entrepreneurs depending on how it's structured. But when it comes to entire industries, it's pocket change.