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Markets2026-09-23 · source-backed
Jason Lemkin argues that a system of record protects retention without creating growth, citing Snowflake at 34% product revenue growth and 126% NRR, Databricks at 80%+ on $7B ARR, against Salesforce applications at 7%. He puts Salesforce storage at about $3,000/GB/year against pennies on S3, and notes 35T of 52T Data 360 records were zero-copy and never moved in. Keep the authoritative record, give up storage rent, compete for the agent control plane.
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The loudest enterprise-agent number of the quarter falls apart when you divide it. SaaStr's breakdown of Salesforce Q2 FY27 (reported August 26, stock up 23%) puts cRPO at $33.5B growing 14% against 11% revenue growth. Agentforce ARR passed $1.5B at +240% on 3.2 billion agenti...
SaaStr published its own invoice, and it's the best single data point I've seen on where agent economics actually lands. A year ago: 10-plus human Salesforce seats. Now: 2 human seats plus 1 API seat. And the bill went up 83%. Not down. Up. The mechanism is that 20-plus AI age...
The analysis models $2.4B-$2.8B ARR at roughly 5.7x-7.2x, against Salesforce's $27.7B purchase price. The brackets carry the argument: $5B-$6B if it's just per-seat chat at monday.com and Asana multiples, $16B-$20B as a platform layer next to Atlassian and GitLab, and $22B-$52...
About 40GB, up from a 5GB baseline, while the human team rarely logged in. The records are task entries, email sends, opens, clicks, call metadata and enrichment, written continuously as a byproduct of agents operating. In the same episode, ServiceTitan gave Podium 30 days' no...
The September 12 piece puts 86% of founders as technical against 59% a decade ago, and uses Databricks and Snowflake as the case study: Databricks promoted Berkeley professor Ali Ghodsi to $190B and 80%+ growth, while Snowflake hired outside operators twice and then saw produc...
Fluree announced GA July 23: a serverless knowledge graph positioned as institutional memory for agent fleets, with shared schema, persistent cross-session context, and enterprise permissions enforced at the data layer. Native to MCP, so any MCP client queries it as a first-cl...
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