Gil Luria

Those types of essays are science fiction.

They are doomer porn.

We can put them aside and just focus on what's in front of us, which is a very powerful technology that could drive productivity growth

which is a good thing.

It'll help increase the value of our labor, which will get us paid more.

It'll help our companies grow faster so they can hire more.

That's the more likely scenario than those extreme concerning scenarios.

I think the least of Salesforce's issue is AI.

I actually think the issue in Salesforce is that their business is just decelerating rapidly.

The growth rate was higher this quarter because they acquired Informatica, which is contributing at least 3 or 4 percent to that growth rate.

So they're already only growing high single digits.

Just a couple of years ago, they were growing 15%.

It's their business that's decelerating for reasons that have nothing to do with AI.

They're losing share to HubSpot and Monday and ServiceNow and Braze and Klaviyo and a whole cottage industry of companies that are providing sales and marketing software that's just better than Salesforce.

Having said that,

What you're saying is spot on in that the market is going to glomp onto this and say, oh, my goodness, AI is killing software.

It's not.

Salesforce is just decelerating and the results are declining.

There's been plenty of companies that reported good results so far this quarter, but their stocks went down anyway because of this negative narrative about software.

But in Salesforce's case, it's really about just their core business not doing well.