《Revealing My Current Stock Thesis & Allocation Framework.》
CRM 面临被 AI 集成（例如通过 Anthropic）取代的风险，且难以拿下更大合同，这些均为负面信号。
即便我们在 Salesforce 上做得非常出色，而且我认为总体而言，我们在 Q3、Q4 软件见底这个判断上做得很好，但难道不仍然存在一种风险吗：如果 Salesforce 现在正通过 Anthropic 以无头方式接入所有人的数据，那么 Salesforce 最终会被取代。
而且他们已经在告诉我们，他们在与客户签订更大合同方面遇到了困难。这是个问题。这是个危险信号，对吧？
Like even though we've crushed it on Salesforce and and you know I think we're doing very well overall in this this idea of a Q3 Q4 software bottoming is there not still a risk that if Salesforce is now onboarding everybody headlessly uh their data via Anthropic that Salesforce ends up getting replaced. and they're already telling us they're having trouble signing bigger contracts with their customers. That's a problem. That's a red flag, right?