Cloud Software

“Winning AI, you're going to have this whole eat the work story. You won't just replace cloud software. You actually will replace the ultimate world work, and that's a much bigger marketplace.”

“GPT wrapper was this, like, derogatory term. Like, we've kind of come to the conclusion, like, that's not even a thing. Like, when someone writes software on, like, whatever the cloud, you don't call it a cloud wrapper.”

“Salesforce didn't win cloud early on because it just was the best at cloud. It won cloud because it was just like a powerhouse in the rest of doing business.”

“If you look at the average cloud software play, which is where a lot of the activities happen in M&A, we're kind of back to that six to eight times revenue area that it's traded up for most of its existence”

“Corporate America still has a minority of their software spend going into cloud.”

“If you look at what's been invested in cloud software, it has literally quadrupled in a six year time period and represents about 50% of total venture capital funding”

“The pharma industry's typically been wildly profitable, and it still is, but it's under cost pressure for the first time just because of patents expiring and that sort of thing, and therefore they're, as a result of economics, becoming more amenable to cloud s…”

“So I would say today, based on like just purely cloud software, the cost to deliver that, that set of books is now a third of what it used to be.”

“There are a lot of places that unless you can give them an appliance, or you can load it on their servers inside their firewall, they're not going to buy it. They are not going to put their data in the cloud.”