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As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

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NewslettersCEO Daily

Salesforce’s Marc Benioff bashes Microsoft — again

Diane Brady
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Diane Brady
Diane Brady
Executive Editorial Director
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Diane Brady
By
Diane Brady
Diane Brady
Executive Editorial Director
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December 19, 2024, 6:00 AM ET
Salesforce CEO Marc Benioff
Salesforce CEO Marc BenioffDavid Paul Morris—Bloomberg/Getty Images
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Good morning.

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Salesforce CEO Marc Benioff this week announced Agentforce 2.0, a further evolution towards autonomous AI agents that act as digital labor. Benioff thinks 2025 will be the year when AI starts to truly transform business and disrupt how we work. And he’s going to hire 2,000 people to sell it.

He started writing and selling software at 15 and for the past 25 years has been a pioneer in enterprise software and corporate philanthropy. I spoke with the Salesforce co-founder about leadership, business and AI in the latest episode of Fortune’s Leadership Next podcast. You can listen on Apple or Spotify.

 “We’re about to move into a completely new world, and I don’t really have all the words yet,” he said. “I’ve never been more excited about software, more energized or motivated, more inspired. It’s not very often that you get to learn so many new things all at once.”

Benioff thinks the roster of AI winners is far from set. He has been a longtime critic of Microsoft’s Copilot product specifically. “Microsoft has been a disappointment to many of our customers with Copilot … That’s because, to make AI work and deliver the agentic layer, you have to ground it in data and metadata. You have to give it your workflow and really let it know who your business is,” and Copilot doesn’t do that, he says.

While Benioff apparently has not joined his tech brethren in contributing to President-elect Donald Trump’s inaugural fund, he says he’s excited about what’s coming. “Administrations change. Presidents change. Our core values don’t change. It’s about trust, that’s number one. It’s about customer success, it’s about innovation, it’s about equality, it’s about sustainability.”

Of course, a new administration is also a new beginning, of sorts. 

“Shoshin [a concept from Zen Buddhism] is the beginner’s mind. As a CEO, you’ve got a lot coming at you all the time. In your beginner’s mind, you have every possibility, but in your expert’s mind, you have few,” Benioff says. “Every day, I have a meditation practice … I need to have a beginner’s mind, because this is very different from anything that’s ever happened before.”

More news below. 

Diane Brady
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TOP NEWS

Stocks take a brutal slide after Fed signals fewer rate cuts
U.S. stocks tumbled to one of their worst days of the year after the Federal Reserve hinted it may deliver fewer shots of adrenaline in 2025 than thought. The S&P 500 fell 2.9%. The Dow Jones Industrial Average lost 1,123 points, or 2.6%, and the Nasdaq dropped 3.6%.

Nissan and Honda merger could be due to Trump tariffs
Merging the two companies would increase their U.S. manufacturing footprint and reduce their exposure to import taxes. President-elect Trump is hoping tariffs will force foreign companies to make more of their cars in the U.S.: “I want [foreign] car companies to become American car companies. I want them to build their plants here,” Trump said in September.

Databricks raises $10 billion round
Databricks announced a $10 billion funding round, marking one of the biggest deals in venture capital history and giving the AI platform a valuation of $62 billion. In a new interview for Fortune, CEO and cofounder Ali Ghodsi describes the work needed to put the deal together, when he expects Databricks to become cash flow positive, and the prospect of going public.

Allianz withdraws acquisition bid
Allianz, the insurer ranked No. 82 on this year’s Global 500 list, officially withdrew its bid to acquire a majority stake in Singapore-based insurer Income Insurance. The deal, which would have been worth 2.2 Singaporean dollars ($1.63 billion), generated concern among Singaporeans because of Income’s mission of providing affordable health care. Fortune

Guilty verdict in killing of Cash App founder
Silicon Valley mogul Nima Momeni was found guilty of second-degree murder in the stabbing of Bob Lee, the former CTO of Square and founder of Cash App. Leo Schwartz and Kylie Robison break down the hours that led up to the stabbing in this piece from Fortune.

AROUND THE WATERCOOLER

Billionaire chipmaker CEO Lisa Su holds meetings on weekends and sends feedback after midnight: ‘I don’t believe leaders are born. I believe leaders are trained’ by Orianna Rosa Royle

How Costco’s formula for reaching uncertain consumers is pushing shares past $1,000 to all time highs by Phil Wahba

Trump says ‘we’re going to knock out the middleman’ and eliminate pharmacy benefit managers that he claims are jacking up drug prices by Sasha Rogelberg

Canadian dollar slumps as Trudeau’s government teeters on collapse by Greg McKenna

Walmart is experimenting with body cameras for employees—like the ones used by cops—as the retail industry fends off ‘unprecedented levels’ of shopper violence by Sydney Lake

CEOs are walking uncertain terrain when it comes to climate by John Kell

This edition of CEO Daily was curated by Joey Abrams.

This is the web version of CEO Daily, a newsletter of must-read global insights from CEOs and industry leaders. Sign up to get it delivered free to your inbox.
About the Author
Diane Brady
By Diane BradyExecutive Editorial Director
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Diane Brady writes about the issues and leaders impacting the global business landscape. In addition to writing Fortune’s CEO Daily newsletter, she co-hosts the Leadership Next podcast, interviews newsmakers on stage at events worldwide and oversees the Fortune CEO Initiative. She previously worked at Forbes, McKinsey, Bloomberg Businessweek, the Wall Street Journal, and Maclean's. Her book Fraternity was named one of Amazon’s best books of 2012, and she also co-wrote Connecting the Dots with former Cisco CEO John Chambers.

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