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Marc Benioff to SaaS CEOs: Grow up, wipe your tears, focus on the customer

May 17, 2026 / 00:44

This episode discusses the challenges faced by private software companies in the wake of the AI wave, focusing on market valuations and strategies for success.

The conversation highlights the frustrations of CEOs who feel undervalued in private markets, with a humorous take on their emotional responses. The speaker emphasizes the need for these companies to shift their focus from market cap to tangible business metrics.

Key points include the importance of revenue, customer satisfaction, cash flow, profitability, and innovation as essential elements for private companies aiming to thrive.

The speaker advises that without a clear path to public markets, private companies should prioritize adding real value to their customers.

TLDR

Private software companies must focus on revenue and innovation, not market cap, to succeed in the current landscape.

Episode

0:44

00:00:00

Let's say you were running a software company that was like before the AI wave

00:00:03

and you're private. There's a bunch of these companies that were supposed to go

00:00:06

public, didn't go public. What should they do? Like what do those boards do?

00:00:10

>> Here's some Kleenex for them for all their tears. [laughter] I mean, I talked to these CEOs, they're

00:00:14

crying. What's my market cap? I'm not getting paid for my work. Guys, grow up.

00:00:19

That's what I love about the public markets, they rationalize everything all

00:00:22

the time. So, >> Yeah. great. Be in the public markets. You want to be in a private market, your

00:00:26

valuation is fantasy land until somebody's actually going to pay you. So, I just tell them focus on your

00:00:33

revenue, focus on your customers, focus on your cash flow, focus on your profitability, focus on your innovation.

00:00:38

How are you going to add value to your customers? That's what's really truly

00:00:42

important.

Episode Highlights

Navigating the AI Wave
Discussion on the challenges faced by private companies in the AI era.
“What should they do?”
@ 00m 06s
May 17, 2026
The Reality of Valuation
A stark reminder that private valuations are often unrealistic.
“Your valuation is fantasy land until...”
@ 00m 26s
May 17, 2026
Focus on What Matters
Key advice for companies to prioritize revenue and innovation.
“Focus on your revenue, focus on your customers.”
@ 00m 33s
May 17, 2026

Episode Quotes

What’s my market cap? I’m not getting paid for my work.
Marc Benioff to SaaS CEOs: Grow up, wipe your tears, focus on the customer
Guys, grow up.
Marc Benioff to SaaS CEOs: Grow up, wipe your tears, focus on the customer
Your valuation is fantasy land until somebody’s actually going to pay you.
Marc Benioff to SaaS CEOs: Grow up, wipe your tears, focus on the customer
Focus on your revenue, focus on your customers.
Marc Benioff to SaaS CEOs: Grow up, wipe your tears, focus on the customer

Key Moments

Private vs Public Markets00:26
Focus on Value00:33