Salesforce

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The platform's own early signals for this company — hard-to-fake, and where one preceded a real raise, the measured lead.

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• bullish endorsement Unattributed

  So the same way that Benioff is taking advantage of the agent trend, knowledge workers are taking advantage of it

• neutral fact_claim Unattributed

  a SaaSpocalypse and Benioff stock was getting hammered by the market. I mean, down 50%. Now it's up back 20.

• bullish prediction Unattributed

  there are certain systems of record that are extremely compatible and complimentary to AI agents. And if they are positioned right by their founders, they can lean into this trend.

• bullish assessment Unattributed

  just a few months ago, everyone was saying that horizontal SaaS wasn't going to survive. And one of Leopold's major positions in that fund was to short all these SaaS products, including Salesforce. And what we've seen is that has turned out to be wrong or totally overblown.

• bullish assessment Unattributed

  these horizontal, monolithic companies like Salesforce are just unique, Workday, Oracle with respect to their GL. It's just very difficult, SAP, IFS, it's very difficult to see a path where you can replicate these businesses, and they become the repository and the single source of truth

• bullish assessment Unattributed

  And now the version of Slack today is like a seven out of 10. And it's getting like 10% better every couple of weeks, I'm noticing. So he's going to do a parallel link sacks, he's going to have his own agents. And he's going to let you come in with your agents, his agents might be a little bit behind, but you're also going to get those agents for free inside of Salesforce. It's like a two ways to win.

• bullish endorsement Unattributed

  I got to say, he's like one of the most underestimated and underappreciated product and sales executives in our industry, because I was talking to him when we were at Davos Saks about Slack. And he was like, tell me about what you're doing. And I was like, listen, you have all my data. I can't get my data. My team wants to move off Slack. They want to use this open source product specifically so I can get all this information. He, again, to your point, Freiberg, put me on with the sales team. An

• bullish assessment Unattributed

  Because now think about the agent as a power user of Salesforce that knows how to use Salesforce perfectly. You don't necessarily need to hire this like team of highly priced consultants to figure out Salesforce. The agent knows how to do it. So it can unlock the full value of Salesforce and all these actions. And then after you develop trust in your agent, you, the user, are just going to click the always allow button. And now the agent can basically tap the full capabilities of Salesforce.

• bullish assessment Unattributed

  a point he brought with me that I think is underestimated is that he says there's a lot of trap value in Salesforce, meaning we know it's got this incredibly broad, rich platform with tons of functionality. The average user is never going to find all those things, but the agent will.

• bullish assessment Unattributed

  Now, why is this ultimately good for his business and not bad is because like I said, I still think that you need systems of record. You need the AI agents to basically go to those systems, get the data from a canonical source of truth. You just don't want there to be any probabilistic variability around that. And you want AI agents to be able to write back to those systems and you want to be able to write back to those workflows. So what's happening here is that it's not a rip and replace. Thei

• bullish assessment Unattributed

  I think Benioff is doing all the right things here. And you could kind of say it's a, if you can't beat them, join them type approach, which is he made this deal with Anthropic. What is that deal? I mean, first of all, he's going to be offering Anthropics models inside of Salesforce. More importantly, I think this is really the critical thing. He is integrating Salesforce into Claude. He's willing to allow Claude to be the front end, to have the sort of the primary user relationship. And Claude

• bullish assessment Unattributed

  I just think this whole SaaS apocalypse narrative was overplayed.

• bullish assessment Unattributed

  Enterprises want certainty, they have compliance, they want professionally managed software that's been running and debugged for years. I mean, just think about all the bug reports that have been filed against Salesforce for over 20 years, right? And that's the hard part to get right.

• neutral fact_claim Unattributed

  I do not believe that core systems of record like CRM are going to get ripped and replaced with something vibe coded.

• bullish criticism Unattributed

  Well, this narrative of the SaaSpocalypse was totally overdone. I mean, this whole SaaS is dead narrative is just getting shredded today with Salesforce being up over 20%.

• neutral fact_claim Unattributed

  And it's not on rebuilding a communications tool like Slack, or a messaging tool like Gmail, or a CRM tool like Salesforce. And at the time, Mark and I were talking on the phone, and he's like, you know, hey, try Salesforce, I'll set you up, come on, do it. And I was like, no, no, no. And then he's like, Yes, yes, yes. And he's so persistent, you guys know, Mark, he's like, so persistent, he's like, best sales guy to text with me, and kept texting every day, are we up yet? Are we up yet? Are we

• bullish assessment Unattributed

  I think the horizontal platform companies, these tools that are horizontal, CRM works across many different verticals... So I think that's kind of how I view this, the real SaaSpocalypse. It's more of a vertical SaaSpocalypse, which is software that's designed for just one vertical 100%. And that's where I think things get blown up.

• bullish assessment Unattributed

  I think what you're seeing is Mark is finding a way to play well with the models, support harnesses, but also build his own, and now start to push into this next phase. And I think that's why his net dollar retention is strong. That's why his revenue is strong. That's why he's guiding up. And that's why the stocks ripped, I think, was it like up 43% since I said it had bottomed.

• bullish assessment Chamath Palihapitiya

  I think the high end of the market where Mark operates, where the large monoliths operate is quite safe. What people are finding is, hey, hold on a second. This is a lot harder than we thought. It's not like, boop, boop, boop, put in a prompt and beep, bap, boop, it all works. It's not how it works. I think we're a little oversold. Now I think this consolidation and the re-rating can happen in the opposite direction. So what is the opposite trade? The opposite trade is who has constructive net d

• mixed prediction Unattributed

  They know how to do this. So, does that mean Slack will be as innovative as it would have been as a standalone company? I mean, we know the answer is no, right? But it has the brand, right? It won the space, and communications became so much more important than we thought, right? When we were talking about HipChat and Slack back in the day, we thought these were cute little apps, right? But now we run our lives on these apps, right?

• bullish assessment Unattributed

  Yeah, they'll just ask for 10, and they'll price it for value. They're not ripping anybody off. But that's what works. That's why their acquisitions in the enterprise work.

• bullish assessment Unattributed

  I want a million dollars from Procter & Gamble or whatever. Mark will go in and ask for 10. He'll go in and ask for 10. He's an animal.

• bullish prediction Unattributed

  So, Slack only has one product, but it went from one segment, which was sort of freemium SMB developer to enterprise in a way that's rare. I mean, it went so upmarket, it's almost unbelievable, right? I believe the majority of its growth is all enterprise-fueled. So, that's something that is not their DNA, and that is something that is Mark's DNA, and they will go in with confidence. And where Slack maybe got nervous—I mean, look, Slack crushed it, right? But everyone gets nervous in sales.

• mixed assessment Unattributed

  if you look at something like Salesforce, right, really great product, but it's expensive. Um, I got pitched a number of times for sales management software, CRM software that was lower priced. Um, and that was the go-to market strategy. So there's always an option to lower the price Google docs, right? And Gmail was, and that whole Google office suite was a way to make Microsoft office cheaper. So you can look at somebody's margin and lower it.

• bullish fact_claim Brad Gerstner

  the public markets as Amazon, as Google, as Salesforce, and so many others have proven. This idea that you can't innovate in the public markets is total nonsense.

• neutral prediction Arvind Jain

  Well, so that is complicated. So we, we build language models. We build smaller models, you know, to sort of, you know, build semantic understanding of your company knowledge. But, but we as well as Salesforce and, and, you know, like other, other products, SaaS product companies, all of us use, you know, APIs to, you know, you know, to these large language model providers like GPT-4 or Gemini to do some work. So typically in that model, what happens is that, you know, you're basically sending p

• neutral fact_claim Arvind Jain

  So, so typically, like, you know, companies like, you know, SaaS companies like Salesforce or Atlassian product, you know, or, or, you know, any of these systems, they're not building language models, language models are built by no, but they're building language models into their product.

• neutral fact_claim Unattributed

  It's a, it did 900 million operating cashflow last quarter and 9.3 billion in revenue. Okay. There you go.

• bullish assessment Unattributed

  Uh, okay. So apple was already formed. Microsoft was already formed. Apple was already formed. Um, you can't count the YouTube because like above my Google may have Google on the list already. Meta came after that. That was 2004 founding. I believe. Tesla was 2001 or two founding, I guess. Uh, okay. So Salesforce would, by the way, fit.

• neutral fact_claim Unattributed

  Because if you're like a new source of truth and you're trying to compete with like HubSpot or Salesforce, it's really hard to get that roadmap time from every single vendor that is integrating with HubSpot and Salesforce. Like they might not want to spend that time integrating with you, but with merge, it's a, it's free distribution.

• bearish criticism Unattributed

  But for instance, like getting our Salesforce sandbox, like took a while and we needed just like, you began to like fill out a bunch of forms.

• bullish assessment Unattributed

  And if you want an example of this, think about, I think the company was Encino, which was the first Salesforce platform company to go public. So they built an entire public company just on top of Salesforce's platform. And that's great for Salesforce because more data, information and business flow through their operations.

• bullish assessment Unattributed

  The dream for every source of truth is to do what Salesforce has done. Like it is impossible to not use Salesforce because every single sales ops tool is built on top of it. And if you don't build on top of Salesforce, it's like, if you don't use Salesforce, and you're kind of screwed because there's just so many tools that are around it. Like, sure you can use like some of these really long tail providers, but it makes it really difficult. It makes it harder.

• neutral fact_claim Shensi Ding

  If you're like a new source of truth and you're trying to compete with like HubSpot or Salesforce, it's really hard to get that roadmap time from every single vendor that is integrating with HubSpot and Salesforce.

• bearish criticism Unattributed

  there is opportunity for startups because people enterprises we talk to try out features like agent force and realize wait this is not what was promised and so there's opportunities through domain specific workflows you know an ai native approach to actually make that promise work

• neutral fact_claim Mark Benioff

  we're not adding any more software engineers next year, because we've increased the productivity this year with the Asian force and other AI technology.

• neutral fact_claim Unattributed

  according to reporting from 2023, Matthew McConaughey is getting paid quote more than $10 million a year to serve as a creative advisor and TV pitchman.

• bearish criticism Unattributed

  Matthew McConaughey to me has become the Salesforce guy who also does some acting a little bit. He's in a lot of ads. He was in two ads this year. That's too much. That's saturation. That's brand dilution.

• bearish criticism Unattributed

  I mean, it's like 50 grand to set up, right? Like that's the thing with Salesforce is you need to then a Salesforce engineer, you know, on staff. The whole thing's super expensive.

• neutral assessment Unattributed

  If you were to look at a product like Salesforce, considered like the gold standard in managing a sales team, you could come in with a, you know, a lightweight version. That's not what a Salesforce cost per salesperson today. Is it like 2000?

• mixed assessment Unattributed

  The context here for Salesforce is that the company's growth has slowed. Salesforce is growing eight, nine, 10% a quarter, even with some relatively large acquisitions, Jason. So my thought here is as Salesforce pushes more and more into AI and AI agents, they need to expand the TAM and get out of just customer data. And so working with a company like Informatica will give them access to a lot of customers that have non-CRM data, and therefore they can apply their same agenda technology, back to

• neutral assessment Unattributed

  It helps companies find out where their data is. It helps them figure out the governance for it. And also to make sure that they're doing good data observability, Jason, which is making sure that your data sources are accurate and not spitting out complete garbage. Now that's pretty boring. I think in a pre AI world.

• neutral assessment Unattributed

  I bet you the outside investors were like, listen, it's not going to get through anyway. So what's the point of all of this to try to even buy things, spend years doing it, then having like Adobe, having the figma deal canceled. So I bet you that was why the activist investors who wanted him to lay people off and get the earnings to spike, you know, and get, thus get the stock price to spike.

• neutral fact_claim Unattributed

  That was back in 2023, because he was under pressure by outside investors to stop doing so many big deals. They wanted him to focus more on cost cutting. And then he went back to doing deals.

• neutral fact_claim Unattributed

  Salesforce is buying a company called Informatica... it's an $8 billion transaction. And Salesforce, as we all recall, is a company that pledged back in 2023. They had disbanded its M&A committee and was going to pull back from mega deals. And then about 20 minutes later, Mark Benioff was like, well, that's boring. I'm going to go back to doing deals. Tried to buy the company last year. Didn't work out. And now we're just scooping it up, Jason, for about $3 billion less.

• bearish criticism Jason Calacanis

  It's multi-platform, not a great interface. It's super hard to cross in between things, putting in your weird URL every time you need to log in. Like, it's just not, it is. And I should, it should be easier for me to make a calendar invite from there, do all the things that like a super human can do. And you're absolutely right. Like it just, it, they got acquired and this does happen. I think, right.

• bearish criticism Jason Calacanis

  No. Corporate IT departments did not, they were not comfortable with the security situation with, you know, I mean, I think they, they like a thing that they know. And Slack, I think didn't necessarily have the security topsy would have thought that those would go up as being, you know, being part of Salesforce. Salesforce, but it's absolutely true. If you've got synced products that are all in the same family, it's just a lot easier.

• mixed fact_claim Jason Calacanis

  Slack grew revenue, 15% slower after becoming a part of Salesforce. Interesting. Then it did in its last year as a standalone company. Remember Salesforce. I had actually totally forgotten this, that Salesforce and Slack agreed on that acquisition back in December, 2020. Salesforce paid $27 billion for Slack. Right. That was roughly 27 times ARR at the time that deal was agreed upon. The deal was cash in stock. And that at the time, again, was a pretty fair price given the market. And it looks g

• bearish criticism Jason Calacanis

  I think Salesforce, by the way, had like a down quarter. I think they like everybody. Slootman is coming for everybody.

• bearish prediction Unattributed

  cut the team in half, you know, that seems highly likely, right? If Slack has been operating really as a as a separate division, and they're like, Okay, wait a second, just as a matter of pure mercenary efficiency, yeah, we can fold this thing into Salesforce's offerings, lay off most of the people who are working on it, because you know, there's duplication.

• bearish prediction Unattributed

  I'm gonna have to do potentially layoffs, right? I'm gonna have to deal with like this crazy war,

• bearish assessment Unattributed

  in a belt tightening environment, if it was the days of, you know, milk and honey here, maybe they would have made Stewart some incredible offer to stay, or they would have some new project that they would want him to spearhead and they make him some unbelievable offer. But in a constricting environment, maybe those offers aren't available.

• bearish fact_claim Unattributed

  given the market conditions and Salesforce is contract constricting, like any other SaaS product

• mixed assessment Unattributed

  it just makes me wonder if something's going on Salesforce, or if it's just one of those times where like things are changing the economies, you know, it's like, everything's been awesome. There could be an abrupt shift to not awesome internally happening.

• neutral prediction Unattributed

  a lot of times acquiring companies want to get rid of the founder, um, you know, and that is the, that becomes the delicate balance. You want the founder there for their creativity, for the spirit of the company for culture, but sometimes the founder can be a blocker, right? Um, because you want to do things like you're saying, integrate the product more deeply into other products. So what if all of a sudden Slack, every contact you mention, it creates a Salesforce record in their CRM system or

• bearish criticism Unattributed

  Product velocity slows down. Usually when a company is acquired by a bigger company, because there's just not the same level of urgency around keeping the product going. And I think you could argue that we saw that was slack. It sort of stagnated for a long time.

• neutral assessment Unattributed

  if an internal person takes something over, they might not be as precious about integrations, uh, or changes to the product, you know, the original philosophy of the project, uh, and the product and the, the founding team is gone.

• neutral prediction Unattributed

  which I think we can assume means that Slack is headed for some greater integration.

• bullish endorsement Jason Calacanis

  airbnb slack twilio salesforce like those have been high performing companies with really positive work cultures

• bearish assessment David Sacks

  Saw net new ARR decreased by two thirds in the most recent quarter. That's a huge slowdown. But it implies the need to cut over $2 billion of sales and marketing if it wants to maintain CAC payback at reasonable levels, i.e., you know, the customer cost, customer acquisition costs. And then he points out that over time, this could become a vicious cycle. Layoffs lead to seat contraction, lead to sales slowdown, lead to cost cutting, lead to layoffs and repeat.

• bearish assessment David Sacks

  when they see a new competitor come along whether it's slack or zoom or uh or okta is they'll basically just clone it create a worse version of that product and throw it into the bundle and so now every single enterprise is getting the slack clone or the zoom clone or whatever for free and that has a huge material impact on you know it pulls the rug out from under those startups

• bearish criticism Jason Calacanis

  unique i think it's interesting you know that slack seems to have gotten the worst of both worlds here which is that salesforce didn't defend against the microsoft move by folding slack into salesforce products right because here you have this situation and there was an interesting anecdotal story from the wall street journal article today they interviewed the chief information officer at carhartt which by the way is like huge right now with the kids again love to see it um the cio said that sla

• bearish assessment Unattributed

  and then butterfield seems to be saying to be clear that he had not been doing that for the last two years so yeah so yeah i mean it this is the problem when founders check out

• bearish assessment Unattributed

  what's happening here is i think a weak corporate culture at slack and and you know like or maybe because stewart's not there there's nobody to protect the select team there's nobody to defend them there's nobody to say no we don't do it that way here anymore

• bearish assessment Unattributed

  this is a common issue in the m a world we saw this acutely at microsoft and google before and the best practice in silicon valley is if you buy something with a strong culture you leave it be let it have a separate building let it have a separate p and l and if there are things that uh you can take off their plate like say infrastructure in youtube's case or the ad network in the youtube case google youtube but most people would consider that the greatest acquisition of all time

• bearish criticism Unattributed

  the meeting was focused on the clashing cultures between slack and salesforce yes and stewart butterfield responded to a question about that by admitting that he quote wasn't very successful integrating the two cultures he said the problem has been there's no incorporation of the slack culture into the salesforce culture and unless there is some element of that then it's not integration in any sense it's just the elimination

• bearish fact_claim Unattributed

  salesforce co-teeo brett taylor stepped down a couple dozen salesforce executives have left over the past year

• neutral fact_claim Unattributed

  he uh is being replaced by a long time salesforce executive lydianne jones not by someone that he handpicked

• bearish assessment Unattributed

  slack founder and ceo steward butterfield announced that he would be stepping down and leaving salesforce which was almost certainly due to the fact that he had vested that his options had fully vested because it was exactly two years after slack first agreed to be acquired however sometimes you get rich and you keep your job that you love and he definitely did not

• bearish assessment Unattributed

  it is likely not helped let's say exacerbated dramatically by the fact that microsoft started bundling what is effectively slack's core offering for free into office so that's microsoft teams

• bearish fact_claim Unattributed

  salesforce bought slack for almost 28 billion dollars about two years ago and now slack is underperforming

• bearish fact_claim Unattributed

  elliot has taken a quote multi or made a multi-billion dollar investment in salesforce according to wall street journal sources salesforce has 156 billion dollar market cap so assuming a you know single digit percentage ownership but uh elliot is not the first apparently activist investor to come in another one came in saying uh that they were worried about it margins and overall profitability starboard value is the one that came in in october and said uh that the company had a valuation discoun

• neutral fact_claim Unattributed

  elliott management uh the activist investors also made a multi-billion dollar deal to invest in salesforce

• bullish fact_claim Unattributed

  for years, this has been a company that just seems to print money without even breaking a sweat.

• mixed assessment Unattributed

  I do think, you know, it's interesting, Benioff talked about profitability, specifically from the earnings call and said, profitability is truly our number one strategy. And that's my number one strategy. That's what I've been focused on with the management team. That's the number one thing we talked about at the start of every meeting. A key part of what we're doing is making sure that every executive in this company knows that profitability is our highest priority, right? Like, Zuckerberg talk

• mixed fact_claim Unattributed

  Salesforce literally had active investors sniffing around when Jana Partners comes and starts leaking dish about your internal stuff to the media.

• neutral assessment Unattributed

  Salesforce is really following that same strategy that Meta did, which is cut spend, lower expectations, and increased share buybacks.

• bullish fact_claim Unattributed

  this is what's really a big deal. Salesforce bought back $2.3 billion worth of its own stock for shareholders and announced that it was increasing its share buyback program to $20 billion going forward.

• mixed assessment Unattributed

  Salesforce is juicing its stock price with the same strategy that Meta just used. And it seems like Benioff is listening super closely to his new activist investors

• neutral fact_claim Unattributed

  Salesforce announced earnings. Its stock jumped as much as 16% after reporting those Q4 earnings and playing the Wall Street game. Very similar to Meta. We're going to break down how tech is now being forced to play ball with Wall Street.

• neutral fact_claim Satya Patel

  companies like Salesforce, uh, will want to have a proprietary model, right? And, and, and sounds like they're working with, uh, opening already, uh, and chat GPT to help build the foundations of Einstein, which is their AI platform.

• bullish prediction Unattributed

  think about how much traffic they could spill over to duck duck go brave or perplexity or anybody in that kind of zone of excellence it would be extraordinary for those companies

• bullish endorsement Unattributed

  perplexity is a great user interface they really know how to build slick interfaces

• bullish prediction Jason Calacanis

  before 2030 you're going to see Amazon which has massively invested in this replace all factory workers and all drivers the idea that when you order something from Amazon a human would touch it at any point in that supply chain is insane it will be 100 you know robotic which means all of those workers are going away all those Amazon jobs ups gone fedex gone all of those are going to be gone and those companies are going to be more profitable and when you order something it's going to come faster

• bullish fact_claim Unattributed

  hands on some internal documents from amazon the cloud and e-commerce giant these are from the 2024 time frame so they're a little bit dated but essentially the company's investments in automation at the warehouse level in particular are going to help it hire 160 000 fewer people through 2027 and the times writes that because they have them up to about 30 cents per package that they pick and then deliver 30 cents is not that much but if you multiply times billions of packages it adds up quite qu

• bullish fact_claim Unattributed

  they were talking about how they're using their ai powered virtual agent chatbot and they say that our ability to control customer support costs over time even as volume has gone up has contributed to an increase in gross margin from 60 percent in fiscal 24 to 68 and fiscal 25 and even more so essentially they're automating things jason static team size cost savings and uh it's helping the company look more profitable so kind of an ai story and a fintech story

• neutral fact_claim Unattributed

  i can't really say anything i mean um you know ips have quiet periods i think um just hoping they didn't apply when the government was shut down but apparently not in general um my understanding of what's happening at a meta situation is just uh because of the government shut down the sec for a short period was not reviewing or fully reviewing s1s and then they actually issued a rule that would allow companies to still go public um if they did certain filings and certain disclosures and then wit

• bullish fact_claim SPEAKER_02, SPEAKER_04

  i was asking because there's a great note in there s1 jason you'll love this uh they were talking about how they're using their ai powered virtual agent chatbot and they say that our ability to control customer support costs over time even as volume has gone up has contributed to an increase in gross margin from 60 percent in fiscal 24 to 68 and fiscal 25 and even more so essentially they're automating things jason static team size cost savings and uh it's helping the company look more profitabl

• bullish assessment David Sacks

  it definitely i would say it scared us enough to sell to microsoft

• neutral fact_claim David Sacks

  they were interested in buying the company for around 250 million dollars

• bearish criticism David Sacks

  benioff had a bunch of like engineers who wanted to build it in-house and so they they vetoed doing a deal and so they ended up building chatter and they threw the 300 engineers at it and they basically spun their wheels for a few years

• bearish criticism David Sacks

  he launched his product to be kind of a clone of yammer inside of salesforce but he was initially charging fifteen dollars per seat we were charging like five and so they massively overpriced it and and they event and then they they were on this like slippery slope where they kept lowering the price to compete better with us and then finally they realized that they should just give the thing away for free as a strategic move

• bearish criticism David Sacks

  it's sort of like a feed inside of the the crm product it didn't really succeed as a standalone collaboration product and so we won that battle

• mixed assessment Unattributed

  benioff's dream has always been at least since he uh you know launched chatter to compete with with us when we were doing yammer this is back in 2010 2011 is he his dream has always been to have a product that could get him onto every seat in the enterprise you know his current product set has is departmental i mean you've got kind of the crm product for sales and they've got the support cloud for customer support and they've got the marketing cloud for marketing and so he's gone department by d

• bullish assessment Unattributed

  i think benioff is just looking at this like if if google and microsoft and apple are too scared to buy things because of antitrust well i'm under the radar of the antitrust trillion dollars so

• bullish assessment Unattributed

  i think brett also understands network effects really well um and you know by the way in this interesting twist of fate benioff was the underbidder i think for linkedin and so um you know we've uh we've seen mark around the hoop on these you know social network network effect business tool um acquisitions before and finally also twitter he was running he was hanging

• neutral fact_claim Unattributed

  the other thing is the president of salesforce is uh brett taylor who uh was our cto at facebook who i worked with

• neutral fact_claim Unattributed

  the size growing size growing about 60 a year and salesforce is growing about 22 something

• neutral fact_claim Unattributed

  if you look at the revenue um slack was doing 800 million run rates anyway rounded up to a billion and yet salesforce at 20 billion uh so five percent revenue to revenue and then they got ten percent of the company

• bullish assessment Unattributed

  i think it's a huge slam dunk acquisition and i go back to the idea of intercompany um network effects um i think they exist and i think they're real and i think that the slack the the slack um product team's ability to innovate around that um was not as fast as it could have been but it was still very unique and i think it was um it was a true moat

• bearish assessment Unattributed

  the salesforce stock traded down afterwards because if they were willing to sell at that small of a premium the forecast internally is probably feeling not that strong and then people translate that into hey salesforce bought something that's not that strong um you know there's there's

• neutral fact_claim Unattributed

  we we opened the direct listing at 40 or 41 and then this was at 45.

• neutral assessment Unattributed

  they probably had was a realization that they couldn't go wall to wall inside of a customer because they didn't really have a product that was useful or usable to every single individual inside of an enterprise and so both of those two things create asymmetries there's a level of fear inside of slack and there's a level of fear inside of salesforce both of them are about the fear of disruption and then the question is who gets the better of the other person in the middle of the acquisition right

• mixed prediction Chamath Palihapitiya

  but you know hopefully they'll be able to execute it at salesforce

• bullish prediction Chamath Palihapitiya

  lock-in and value and you know the prevention of churn uh over time I think it's going to be huge

• bullish assessment Chamath Palihapitiya

  google or instagram is for I think I think it's on that level actually I think it's of that order of magnitude where the importance of those assets to those companies slack will be to salesforce

• bullish endorsement David Sacks

  I had another smart business move I just wanted to point out which was salesforce buying slack I think it's brilliant for them I think they're going to look back on the 10 they paid of their capital for slack and I think slack will be more important than salesforce ultimately in business it's a huge the most important brand there what a great what a great move by benioff and and brett taylor and I just think what a great asset totally be better for them than youtube is for

• bullish endorsement Unattributed

  buyback program to 20 billion dollars going forward and like meta which suddenly got fit and got religion

• mixed fact_claim Unattributed

  they're up 14 year over year small net loss but the company bought back 2.3 billion dollars worth of its stock we're going to see more of that for sure and they're going to be increasing its share buyback

• bullish fact_claim Unattributed

  but shares were up 11 on thursday after reporting their q4 earnings

• bearish criticism Unattributed

  well it makes sense that benioff with his you know very loving family kind of approach to running the company might actually it might take him a little while to become a big cutthroat so as everybody knows benioff and salesforce have had a lot of turnover a lot of senior executives have left voluntary or involuntary

• bullish fact_claim Chamath Palihapitiya

  all of the old legacy software companies x of salesforce have still not got to profitability so meaning the ones that went public in like the early teens are still sucking wind losing money

• bearish prediction Chamath Palihapitiya

  That is the Zoho 2.0, right? That is the Salesforce 2.0. It's sort of this app, app store, common data bus kind of an idea that I think somebody will build.

• bullish assessment Unattributed

  i mean if you actually look at salesforce they they're growing at 10 to 10 to 12 percent so why why is salesforce that has all this amazing data you know it's a database company right ultimately crm company and they're they're only you know they're they're down 40 for the year um and i think you know it really is that investors are chasing after growth fundamentally

• bullish prediction Marc Benioff

  And I think that for our customers, they're going to augment their employees. They're going to make things lower cost. They're going to increase their revenues.

• bullish assessment Marc Benioff

  And that's how I feel right now about Agent Force. This is all I am doing. Just try to take our company. You know, we have a great company, 38 billion in revenue, 75,000 employees, hundreds of thousands of customers, and one focus, Agent Force. This is because of what you're saying. This is the moment. This is the greatest opportunity in the history of enterprise software. And it must be executed with absolute acuity and excellence.

• bullish criticism Marc Benioff

  I've seen this now with a number of our customers, that they're kind of DIY in their AI. And, you know, DIY, I think it's fine if you're like Neil Young, and it's homegrown, and it's Canada, and it's, you know, Ontario. But this is not what you should be doing with your artificial intelligence.

• bullish assessment Marc Benioff

  These are not the bots you're looking for. These are like, we're really getting to like another level capability. And I think that it's pretty impressive.

• bullish criticism Marc Benioff

  I think in the last few years, what we've kind of heard and, you know, some of it has come from OpenAI, but especially from Microsoft, that we're in this co-pilot world and these co-pilots have universally failed. The level of accuracy, the spillage of information, the lack of trusted environment co-pilot has been a complete disaster.

• bullish assessment Marc Benioff

  in a head to head benchmark of Salesforce's agent force against Google's AI, we 2X them on accuracy.

• bullish fact_claim Marc Benioff

  We are already at that point. We already have that live and we will have that scaled for thousands of customers before the end of live for with thousands of customers live before the end of this year.

• bullish fact_claim Marc Benioff

  They have the ability to do things that are truly astonishing and that is also generate revenue. So they can go out and like on a day like today, like it's 100 and something degrees outside... Disney can proactively go out to their consumers and their customers and say, hey, come enjoy the heat with us all. You know, Disneyland, we're going to give you a special promotion or price or contest or whatever it is to come to Disneyland. So we want to be able to proactively go out and generate revenue

• bullish assessment Marc Benioff

  The efficiency and productivity that we've been had with AgentForce is like nothing I have ever seen with any of our customers or technology in the history of software.

• bullish fact_claim Marc Benioff

  By the end of this month, we'll have more than a thousand customers on our AgentForce platform.

• bullish fact_claim Marc Benioff

  We're running the largest banks, insurance companies, media companies, CPG companies, blah, blah, blah, blah, blah in the world.

• bullish fact_claim Marc Benioff

  We're working with a large medical company, not so far away from here, Kaiser. We've got 20 million patients. They have a super complex data set. They have all of the data from Epic. They have the largest Epic customer in the world. And more than 90% of all patient inquiries and scheduling requests and schedule my doctor, schedule my CT scan, my MRI, my this, my that are being resolved by Agent Force and Atlas.

• bullish fact_claim Marc Benioff

  We have every Disney customer test point all wired up. So the amalgamated data set that we have around Disney is awesome. So when we can take that Disney data set and then we apply Atlas and Agent Force, we are able to deliver a level of accuracy that has been incredible.

• bullish fact_claim Marc Benioff

  Disney has AgentForce. They have the newest version, which we call Atlas, which is our most accurate, not just model, but we have an extremely unusual technique that we'll talk about. And Atlas delivers for Disney, for their cast members, which are their employees, through extremely complex problems that it's solving for them, more than 90% accuracy and almost no hallucinations. And in some cases, 95% accuracy and almost no hallucinations.

• bullish fact_claim Marc Benioff

  To make AgentForce really deliver, we had to have all of our customer touchpoints wired up, which we do. We have to have an amalgamated data cloud because we need the data, especially to achieve the AI accuracy and the metadata as well. And we have to have the agents. It's these three layers that are really going to deliver this next generation capability.

• bullish assessment Marc Benioff

  AgentForce is the most exciting thing I have ever worked on in my career. It's the culmination, really, of everything that we've done at Salesforce.

• bullish prediction Marc Benioff

  We're at the precipice of the greatest moment in the history of enterprise software and of cloud computing. ... I'm really convinced that we are now really at the moment, right now, where enterprise software is going to be completely transformed with artificial intelligence. ... Einstein has done amazing. You know, it's doing trillion transactions, trillion and a half transactions a week, predictive, generative.

• bullish assessment Marc Benioff

  We came out with three models. The cloud model, which you also have been part of that. The subscription model, you've also been part of that. And the philanthropic model, and you've been part of that. And those ideas that we're doing three models, that continues to be the fuel for the company and extremely important.

• bullish assessment Marc Benioff

  Look, I think that the growth, obviously, is incredible to $38 billion. And obviously, the cash flow is incredible. It's more than Coca-Cola did, I think, last quarter. And the margin is incredible.

• bullish assessment David Sacks

  if you start at the bottom and work your way to the top, that Salesforce is growing by about 20% a year. And if you look at it over three years, that's roughly a double. So every three years, Salesforce was doubling. And that means that over a decade, it's growing 10x.

• mixed assessment David Sacks

  Look, I think that if you're only using a few use cases of these big complicated software packages, then yeah, it's probably easier than ever to deprecate them, you know, eliminate them from your stack and just have your own internal engineers build specifically what you need in a more tightly integrated way. I think that is possible.

• bearish fact_claim Chamath Palihapitiya

  Klarna put out this like cryptic tweet slash press release where I think maybe it was in their earnings. Nick, maybe you can find this where they're like, we've deprecated Salesforce and worked it.

• bearish prediction Chamath Palihapitiya

  if you have these things, why do you necessarily need a system of record in the way that you needed to before when you're writing all this clunky deterministic code?

• bearish criticism Chamath Palihapitiya

  you don't need to spend tens or hundreds of millions of dollars to wrap your revenue in something that says it's a system of record you don't need that actually you can just pipe that stuff directly from stripe into snowflake and you can just transform it and do what you will with it and then report it

• bullish assessment David Sacks

  he made a very compelling case to me about why that wouldn't happen which is well first of all i think ai models are predictive i mean at the end of the day they're predicting accurate you want to know if the federal government asks you for the tax id numbers of your employees you just want to be able to give it to them if wall street analysts asks you for your customer list and what the gap revenue is you just want to be able to provide that you don't want ai models figuring it out so you're st

• bullish prediction David Friedberg

  i think it'll be more like salesforce or microsoft or google or amazon getting off the sidelines because they looked at and said you know what the juice ain't worth the squeeze we might as well put our efforts and our capital into buying big hardware and building new products and services but if they think hey i got a chance of pulling this through i'm sitting on all this cash what if i hit another youtube and instagram

• bearish fact_claim Unattributed

  They're going down, and this is for Salesforce. It shows it's been cut in half in the last couple of weeks. But the final slide, they're going down not because revenue is falling. Look at this. Revenue is actually stable to increasing for software companies, revenue growth. They're going down because we're discounting that future uncertainty. When something as profound as AI comes along, all of a sudden, it causes you to question whether or not there's as much certainty and durability in those f

• mixed assessment David Sacks

  I don't think AI is going to get rid of Salesforce, but it could eat into their growth opportunity.

• bullish prediction David Sacks

  He's made every previous wave work to his benefit, whether it was social, whether it was mobile, whether it was big data, all that kind of stuff. What are the odds he's going to make AI work to his benefit? I'd say pretty good. So his stock might be a bargain right now.

1. 2028-02-05 before 2030 you're going to see Amazon which has massively invested in this replace all factory workers and all drivers the idea that when you order something from Amazon a human would touch it at any point in that supply chain is insane it will be 100 you know robotic which means all of those workers are going away all those Amazon jobs ups gone fedex gone all of those are going to be gone and those companies are going to be more profitable and when you order something it's going to come faster · Prediction · pending

VentureSignalScore 79/100 for salesforce, composed from 1 of 4 components (index v0 cross-signal), discounted ×0.79 for 30% signal coverage