SaaS needs to win at the AI layer to get back to 10x revenue multiples
matt_slotnick · x · 2026-08-27
Investor @mattslotnick, surprised by the stock reaction, lays out his frame: all current app-layer SaaS faces flat-ish growth in existing business. Stay at mid-single-digit growth and enjoy a 3-5x revenue multiple—unless you trim operating fat for profitability, which isn't Benioff's game. To get back to 10x+ revenue, Salesforce must solve AI. In replies he adds that Agentforce monetization really picks up in later years, most companies are still grappling with outcome-based AI GTM, and sustaining the current adoption clip is 100% positive.
Related event: Salesforce Earnings Spark Debate: Can AI Save SaaS Valuations(5 posts)→
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