Lisa Mateo

What do you make of the software numbers that we saw from CRM that we see from Snowflake as well?

Did they manage to push back on this disastrous fear engulfing the market that generative AI is going to eat their lunch?

Yeah, thanks, Caroline, for mentioning my birthday.

Goodness sakes.

pretending like I don't have them anymore.

I do think that some of these companies are facing some really strong headwinds.

We got out of Salesforce a while ago, not because we knew this narrative would prevail, but we just didn't see an exciting growth trajectory for the company.

We also became a client.

It was not a great experience.

And so we canceled our contract.

But in terms of software in general, I think some of these companies are going to win.

And I've talked with you in the past about ServiceNow.

We still own it.

We added to it recently.

We think they are going to benefit from better margins in the future because they're pivoting and vertically integrating.

But we got out of Adobe and that was because we didn't see the company pivoting.

And that was a number of years ago or about over a year ago.

And so I think that's what investors have to digest is who are going to be the winners.

And Salesforce will be in business, but they may not put up the kind of growth numbers they've put in the past.

And we won't know for a couple of days because it was down pre-market, then it shot up, and now it's falling back.