David George

We feel really, really, really strongly about market leadership.

Why?

Do you know the Glenn Gary, Glenn Ross movie?

I know the movie, yeah.

You know the scene with Alec Baldwin?

Yeah.

Refresh our memories.

There's the scene with Alec Baldwin where he's running a sales contest, a boiler room setting, and he comes in, he's running a sales contest, and he walks in and he's like, okay, guys, new contest, here we go.

First prize gets Cadillac.

Second prize gets a set of steak knives.

Third prize, you're fired.

So we've adopted that as a way of describing most of the technology markets that we live in.

So we happen to think, and I happen to think strongly, and my experience has been, the vast majority of market cap creation is going to go to the market leader.

And this is probably underappreciated.

We see this all the time with our peers in the growth investing industry, where they say things like, yeah, you know, even the number two player is going to be really viable.

Maybe, but more often than not, that's not the case.

That's obvious in network effect driven businesses, consumer companies, Google, Facebook, etc.

It's less obvious in enterprise companies, but it happens just as often.

There's no number two to Salesforce.

Salesforce is Salesforce.