Published On: Tue, Jun 16th, 2015

Marc Benioff: There Is No Tech Bubble

Marc Benioff 640x360

The founder of Salesforce, Marc Benioff, has begun a feud of sorts with fellow jewish billionaire Mark Cuban. In an interview with CNN, Benioff has gone on record as disagreeing with Cuban who believes that there is a tech bubble today.

“I don’t think there’s a bubble. I think there’s a huge amount of innovation in Silicon Valley that is getting monetized, ” Benioff told CNN’s Poppy Harlow in an interview at his software company’s San Francisco headquarters.

Remember the big bubble which burst back in 2000? Well today is very much different than 15 years ago. Back then companies received millions in investments with no real revenues or ways to produce revenue streams.

As Benioff explained, today the high tech companies, such as his, Uber and Airbnb, have a real foundation and genuine revenue streams.

“These are real companies with very significant revenue streams. This is very different than 2000 because those companies in 2000 did not see revenue levels at the high level that we’re seeing with these new companies, ” he said.

As for his biggest regret, Benioff is sorry that he did not ensure equality for women at his company from the very beginning. “I wish honestly that I could rewind time and go back and put that women’s equality issue into the culture from the beginning. Looking back 16 years, that was as big an issue as the philanthropy issue is for me now.”

Benioff expects to offer 100% equal pay for women within a year. “I would really like to achieve that within 12 months. We’re committed to women having the same executive roles and all possibilities for them as well.”

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