CRM
Salesforce, Inc.
stock NYSE

I was asking the commenter if his work have dumped it. Every Fortune 500 sales rep I know is still using it. Some are doubling down with agent force. I expect CRM and FIG to bounce back. I have fully rotated out of healthcare stocks and into SaaS

Now go and sell it to a multibillion company using CRM or NOW as a replacement. Good luck. I promise I will sell my positions if you succeed.

About four weeks ago I decided to start building a CRM tool that is specialized in Customer support. I had decided to build this after having four experiences related to customer support that, in my opinion, were quite inefficient.
I have used Claude Code and since two weeks i have decided to get a second pro account to continue as my usage maxed out.
I have zero coding knowledge. Claude Code advised me on the platforms to run my tool for the front and backend. also instructed me how to work with GitHub.
Now I do not think this product is better than Salesforce, SAP or NOW. I do think that it can compete for smaller businesses, especially since my planes are way cheaper.
I also do feel that it must be missing something, since it was not hard to build in my opinion. I ran a Locust stresstest (also advised by claude) and my tool held up very well up to 300 users doing the same action (I stopped the stresstest since this scenario in reality is very, very far away).
I also do believe that large SaaS companies will not be replaced since they have proven reliability and resilience. And I myself have invested about 15% of my portfolio in SaaS stock.
In my experience , if a company decides to build their own SaaS with a team of engineers supported by agentic coding, they would be very able to do so.
I have not made this post to promote my product. I am just curious about the discussion. I will DM my website to commenters who want to see proof/see if it is actually any good. There it is possible to request a demo to see the tool for yourself.

How is it easier to switch your CRM which manages your customer data (addresses and credit cards) employee information, website interface, website backend, marketing, just to name a few, than your company that does payroll? Am I missing something more that SAP does?

lol this is some "end Justifies the means" kinda crap. So whats the capex increase for service now and CRM that they have crashed, please do explain?
Its essentially the SAAS part of MSFTs business thats really pulling them down. There is obv some jitters about the spend , but assuming that the top 5 companies in the world with the clearest demand signals (**that the market doesnt have**) have all lost their business marbles is naive.

MSFT is adding 4 GW capacity every year , thats as much as they built in 10 years being added every year for the next 4-5 years. even after this they are still supply contrained for atleast 2026.

If you have ever used a truly frontier model in a actual productive context (building stuff not asking questions) , you will realise how powerfull the tech is and why the demand is so strong. its almost life altering, you cannot go back to your old way of working.

Orcl, CRM and ADBE moon when?! 😖😖

first off Mr. Big Time, NOOObody gives a F about a \*chuckles\* 1.1% div
NOW has an 23 forward PE vs CRM at 11, so only about double. The PEG on CRM is .75 vs NOW at .97… so cheaper, but not by that much

NOW has 22% revenue growth vs CRM at 13%. So about 5% above the s&p vs about 5% below it. That’s a huge difference to the market

NOW has a few % net cash, but CRM has taken on about 25% of its mkt cap in debt to finance the buyback, so ur 120B company is closer to 160B in EV, a pretty big difference even if the mkt doesn’t care much about debt & you (like me) agree w/ the buyback.
On that June 1st blow off top, NOW spiked a whopping 75% from the April low, CRM only made it 30% higher, a massive difference for traders

Last week, NOW easily held its 2026 low & bounced, CRM crashed to a new low, signaling a lack of investor confidence.

NOW has been transitioning to a future looking usage based model for years, CRM is still seat-based (though I think they figure out the transition), you hear the difference mentioned constantly

By far most importantly, NVDA CEO Jensen Huang, the godfather of AI, does joint pressers with NOW leadership like every 3 seconds, he constantly touts their strategic partnerships & has so clearly telegraphed NOW as \*the\* survivor in enterprise software (possibly because of their best in class model), that NOW basically has to survive for Jensen to save face & to prove that his technology won’t eradicate an entire industry.

I actually just bought CRM, the PE is getting stupid low, but Jensen has made it clear who Nvidia wants to be the last man in enterprise, & CRM ain’t it.

Rotating into software. NOW and CRM

MSFT, CRM, NOW, CSGP, CELH, BSX, and FRFHF

I DCA CRM, VEEV , NOW, ZTS and dozens of other undervalued stocks whenever they drop below my average. Trying to make the most of all the discounts while they last. Crazy good value in a bunch of sectors, which makes my overdiversification lovin ass very happy.

Am I going to regret going deep into CRM, NOW, and ADBE last week?

Many quality names have been selling off recently, such as CSU, CPRT, VEEV, NOW, MELI, SPGI, CRM, ZTS, ROL, and CSGP in favor of momentum names (mostly semis). Any contrarians out there adding significantly amidst this downturn?

Veeva are pretty great. You’ve got two sides of the business: CRM functions and R&D functions.
CRM, they’re essentially competing with Salesforce to fulfil big pharma (and some small pharmas’) commercial needs. I think they said on their Q1 call that out of their self-assigned top 20 pharmas, they’ve acquired 12 of them onto their CRM, Salesforce have 2, and of the remaining 6 they expect to capture 4 of them minimum (numbers might be slightly off, but the picture is the same regardless). Their CRM suite is pretty good, largely proprietary so the cost per customer is less than it is for Salesforce who build a bespoke suite (relatively similar margins though), but with agentic AI rollout we can expect to see decent revenue growth from these customers going forward thanks to pricing per seat rather than entirely subscription-based revenue.
On the R&D front they’re pretty much unmatched, they are vital for every stage of pre-clinical, clinical, and regulatory development. They released some details over the past couple of days regarding agentic AI developments on this side of the business, as well as a related acquisition.
Overall, they’re a durable business that is completely symbiotic with biopharma so it’s fundamentally decoupled from the rest of the Saabs landscape due to the nature of the business and the industry it operates in. I think you also have to give credit to what’s proven to be a successful and impressive management team. They’ve identified some real points of innovation to pursue and have always spoken with confidence in what their teams can do as they navigate AI. I think they have a great vision for how to help develop the clinical development field alongside biopharma and how best to incorporate AI into their existing functions.

Super fair take. I’m at probably the biggest SaaS out there and sell to the biggest enterprise clients so I definitely have a skewed take. I don’t cover any of the commercial business but I’d expect smaller SaaS players to be hit SUPER hard by the build it yourself track. I mean if I was running a small company I’d 100% build my own system. If I was running a 100 person call center supporting 100,000 customers, I’d be looking at the big CRM companies for a full end to end product rather than trying to build something myself.

NOW better than CRM big time

Holding ORCL and CRM feels gayer than sucking a cock 😫

I would say QCOM or CRM but the plebs want overvalued

Background: I've spent twenty years doing data ontology work professionally — building the semantic structures that turn raw, ungoverned data into something usable, most recently at SurveyMonkey. On the side I've built a personal screener pulling 16 years of SEC XBRL data across roughly 1,700 tickers, normalizing inconsistent tags so true FCF (operating cash flow minus CapEx minus SBC) is comparable across companies. I'm posting this here specifically because I think the methodology question is more interesting than the stock picks, and this sub seems like the right place to have that argued with rather than just agreed with.
**The consensus trade and why I think it's incomplete**
Everyone agrees the AI infrastructure trade is the data platform layer — Snowflake, Databricks, Amplitude. Raw data storage, query, and governance tooling. The market has priced this consensus in fully; these names carry premium multiples on the "picks and shovels" thesis.
My argument: raw data infrastructure is closer to a commodity than people are pricing it as. SQL servers, data warehouses, analytics capture platforms — this category has been re-invented every decade with marginal differentiation, and the switching costs, while real, are mostly operational (migration pain) rather than epistemic (the new platform can do everything the old one could, eventually). What's scarce isn't the pipe. It's validated, structured, domain-specific content moving through the pipe.
**The taxonomy I'm using**
I split AI-relevant data companies into four categories:
Foundational language data — Reddit (RDDT) is the only name here. Granular subreddit classification plus upvote-based quality signal is genuinely unique training corpus for natural, idiomatic language. I don't own it — FCF yield too low for my framework, still in a cash-consuming growth phase — but the data moat argument is real.
Industry-specific contextual data — FactSet (FDS), Veeva (VEEV), Roper (ROP), S&P Global (SPGI). These companies have spent decades organizing messy, heavily regulated domain data into clean, structured ontologies: financial workflows, FDA-validated clinical trial records, county tax administration, credit ratings methodology. None of this is scrapeable. A general model trained on public web data has zero exposure to what a structured clinical trial submission or a properly normalized financial model actually looks like internally.
Workflow/usage data — Adobe (ADBE), Salesforce (CRM), SS&C (SSNC). The moat here is encoded human process rather than raw content. A Salesforce lead-to-contact-to-opportunity data model isn't bad design — it's encoding a specific sales workflow that took years to standardize across millions of companies. Replacing it means replicating not just the data but the process logic embedded in how that data gets created and transformed.
Data foundation platforms — Amplitude (AMPL), Snowflake (SNOW). The commodity layer described above.
**The valuation argument**
The names in categories 2 and 3 are trading at meaningfully better true FCF yields than the consensus infrastructure plays, despite (in my view) deeper and more durable moats — partly because the SaaSpocalypse selloff has lumped them in indiscriminately with software companies that genuinely do have weak, scrapeable moats. I think the market is pricing the wrong layer of the stack.
**The honest open question I'd actually like pushback on**
Is "irreplaceable context" really a durable moat, or just a temporary information asymmetry that AI labs close over time as they get better at synthetic data generation, data partnerships, or simply paying for licensing access to exactly this kind of structured content? If OpenAI or Anthropic can license FactSet's data outright, or if regulatory data eventually becomes more standardized and shareable industry-wide (think FDA pushing toward common data standards), does the moat compress faster than the multiple suggests it will? I think the moat holds longer than the market is currently pricing, but I'm genuinely less certain about the 10-year case than the 3-year case, and would like to hear from anyone closer to enterprise AI procurement or regulatory data standards on how real this risk is.
Full piece with the four-category breakdown and a true FCF yield comparison table is here, for anyone who wants the data: [https://cavemanscreener.substack.com/p/context-is-50-iq-points-part-ii-data](https://cavemanscreener.substack.com/p/context-is-50-iq-points-part-ii-data)
Disclosure: I own FDS and ADBE.

A bit too late to get into semis, these days I'd focus either on beaten down SaaS (NOW, CRM) or hyperscalers (MSFT, META, AMZN, except ORCL), since neither are going away anywhere.

I don't know about this one, I have been getting hard drilled on CRM, Too skeptical to left MSFT go deep in the mouth while CRM is going hard from behind.