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We will be joined to talk more about that. But first, lets talk about the market. Abigail doolittle is with us. On the back of a big speech by joe biden last night that has been largely wellreceived, even some republicans saying it was successful. Abigail indeed. Probably not too much influence in the markets today because earlier today on the open, really small moves. It was as the day got going that the gains continued, especially for the tech stocks on the day. A real head scratcher because we have a they were we do not have any positive macro data on economic front, and we also dont have any negative data relative to the macro either except for the further out uncertainty around the election and u. S. And china relations. Here we have the big tech stocks you were talking about once again climbing to the nasdaq 100 and faang index both at record highs. The faang index now up 115 since its march low. Apple is just incredible, up more than 5 today. Split does notck create value. Inter ....
Host im excited t. We got our members from across the world joining us for this conversation. Ive been talking about it nonstop over the last few days to the point of annoying quite few friends. But were all very, very excited to learn from you today. So, to remind everybody the context of our conversation today, together with alex, were going to be learning how to compete in a world where no advantage is safe. So this concept of always day one is something we can all benefit from. When alex started writing the book im sure he wasnt exactly expecting it to be released in midst of a pandemic. However, in my view, this topic could not be more relevant especially these tase when so many of us are forced to have that day one mentality. So, help us kick off alex id love to ask you, what you found to be so important about this topic that you wanted to focus your sights on really going deep and the leading ceos and Tech Companies, what g ....
We begin with breaking. Salesforce raising its forecast. The biggest firstquarter they have had. This underscores their attractiveness as a takeover target. Cory johnson is in san francisco. We heard no comment on the deals. They are 1000 focused on customer satisfaction. Corey thats a lot of percents. Here is the big take away. If you want to compare it to what the analysts expected its better than that. The reaction and market trading is muted. Last quarter, the stock jumped 12 . The next day its down 5 . We will see how it shakes out in trading. While better than expected it has dramatically slower growth. The biggest firstquarter they have had but only 23 bigger than one year ago. Compare that to one year ago. 37 a year ago. They went from 37 to 23 sales growth. That is a lot slower. It is different Growth Potential than what we would have expected a year ago. One of the reasons from that is that they spent less on marketing ....
Ecommerce. You guys didnt even know if this thing was going to work. We had a pretty good instinct. If you make the best Service Online, people will come. This is a company that wants to control the infrastructure. As computers continue to get cheaper, we will layer innovation on top of that. Its plausible that amazon will know you better than you know yourself. Alexa its in our homes. Should people trust that it wont be used against them in some way that they dont authorize . Absolutely. At our fingertips. Amazon web services took over the web basically in a decade. Does having that much power give you pause . Thats a significant responsibility. Were aware of that. And now it fuels our economy. Amazon is americas second trillion dollars company now. The company is now worth almost as much as the entire economy of australia. Is amazon too big . I dont think amazons too big. Amazon has got to pay i think they have monopoly power. A ....