YouSaid · the spoken record

Mark Hurd

lines on the record: 65
first: 2017-06-19
most recent: 2017-06-19
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“It's a more complex subject, but it still gets to the core of what are the things that are core to driving economy. We talked about people and productivity. At the core of that is education, our opportunity to get educated people, educated workers in the jobs that are driving innovation, more valuable jobs. It's not to say that some of those jobs aren't valuable, but in the end of the day, if we can automate those processes and get our money, our customers' money into other things, we create better outcomes. I do not think in any way, shape or form the valley or any company should stop investing in innovation. It's going to hurt us long run. We want to be the ones helping get that done.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“But again, economy shift and investment shifts. So if in the end I can automate a process and I can make that process more effective, whatever it be, driving, hospitality, et cetera, and I can take the capital that I, the company, spend on that and then now invest that in more innovation so I can do something better. I'm in a better space than I've been before. We should not get scared about innovation. It makes us more efficient and frees up capital for our customers to reinvest in other things.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“I think our view is to keep innovating. We want to have that innovation. My preference would be we do it here instead of, because if we don't do it, somebody else will do it. Our job is to get customers in a position where they're the most efficient and effective they can be. And then I would think move that investment to other areas so they can further their innovation. We also don't want that innovation going on anywhere but here. If we don't drive it, I assure you somebody else will.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“But again, remember what people are talking about is where are they in SaaS? Where are they in infrastructure? Where are they in platforms? And we tend to here come up with this term cloud, which in isolation doesn't really mean much. Cloud is a generic term for a whole bunch of things. And so what you see is many people talking about, I'm number one at that thing within the cloud. I'm number one at that thing within the cloud. I grow the fastest in that thing within the cloud. And so it's a segmented market. It's a lot of different things. I do think it's a mistake to just generically talk about the cloud. Because in the cloud, I mean, just to give you an example, our applications business, or if you would SaaS, our applications business measured in support on premise and SaaS is growing double digits.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“As we chatted months ago, the cloud is the biggest shift of innovation and wealth creation we haven't seen since the first generation of the computer industry, going back to the whole client server things we talked about. Yet everyone's To be number one in the cloud. Amazon's number one, Microsoft's number one, Oracle's number one.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“Let's be clear about the cloud business. CapEx is a dimension of it, you have to have the capital to invest. But in the end, in isolation, CapEx won't give you a great solution in isolation. You have to have capital. But if you don't have IP, by the way, if you ask me, you know, does CapEx in isolation give you an advantage? If I do something technically, I might be able to have my CapEx costs. I might be able to turn it into a quarter. If I'm multi-tenant my database, if I put it in memory, if I multi-tenant my middle tier, I can actually shrink the number of data centers I need and actually shrink my CapEx at the same time. So I need capital, but I also need innovation and I need technology.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“I don't think the problem is with investors in Wall Street, for example, I don't think they particularly care about my problems or some other company's problems. Nobody wants to hear I had a bad day or didn't say, nobody cares, right? The only issue they care about is performance. And so I think at the end of the day, you have to perform back to this point, right? That says, you know, when you say to me, I'm going to take a timeout to transition our business. The investor says, okay, I'll come back after you're done. And so I think that that whole point about why does the investor understand, I think they do. I think their point is we want to see performance, whether we like it or not. What they want is earnings per share. They want cash flow or they want revenue growth. They want one of those three metrics they can hang their hat on and they'll give you and reward you for that if you're in transition from here to there not so much. I think on the CapEx point.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“To do it quickly and to make sure we took no shortcuts. And so we've tried to do all three of those things at the same time. And listen, we've wound up with the result I described, which was flat earnings during that timeframe. Our best quarters have been the past several quarters as we've now come out of that and where you start to see the benefit in terms of revenue that's now coming in as rooms are getting rented in the hotel.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“With basically flat earnings per share. And this is not the formula for being admired by the investment community. And so you have to have the ability to deal with that because now I will say once you get to the other side of that, it's a bit like I use the example sometimes like the hotel business. The problem with the cloud is you got to build a hotel. And it's got to be finished before you can rent any rooms. And the problem is while the hotel's going up, there's no revenue. And then once the hotel is finished, you can start renting rooms. So you have to have enough ability to be able to sustain that while you're going through the process. And there's no quick way through it. We've taken the strategy right or wrong was to try and do this move to the cloud to do it right.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“Tech CEOs that are moving. Well, listen, I mean, I think it's hard. First, the revenue becomes ratable. So in our old license business, if we sold something, it was recognized right away. Now we sell something that's recognized over quarters. And frankly, in years. So it does have an impact to the revenue model. But in the long run, if you want to make this move to the cloud, you need three core things. You need IP. You can't move without IP. Second, you have to have capital to your point. It wasn't exactly your point, but I'll make it mine, which is you have to be able to invest in the infrastructure to be able to deliver that IP via the cloud. So you got to have IP, you got to have capital, and you got to have the right word for it is the patience or the whatever word you'd want to use to stick it out because it takes, if you look at us, I mean, we spent three years.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, everything's in that case. Most of the data isn't about Mark. It's anonymized. And so the ability to get its specific activities that you do are eliminated. If you opt it out, you don't get included in that data set either. So you still have the same privacy opportunities you've always had. Nothing changes in that environment. So you would have had to have opt in and participated to be part of that process.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“Is the same IP that's running at Bimbo? You now get that done by us. It is not customizable. It's extendable, but not customizable. That's a big difference. So the opportunity now for companies in Latin America to get absolutely leading edge IP that you couldn't get before has changed dramatically. So I'm sure you know, we've invested heavily in Latin America. We put data centers in Latin America. We've expanded our Salesforce in Latin America. We're gaining a material amount of share in Latin America. And I think it's been because we've invested ahead of the curve. We invested in Colombia. We invested in Chile. We invested in Peru. We've invested in Argentina. We continued our investment in Brazil in spite of the recession. And so it's all been because we believe that what Karen and I have been talking about is going to happen across the entire region. And so our investment in that work is significant.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“Well, first, I love Mexico I think it's a great market for us. We have obviously a great customer base in Mexico. We've just had a couple of very big events in Mexico. One of the biggest, I'm not sure we've released it publicly, but I will now. Bimbo, for example, has moved to all cloudy RP, one of the fastest moving companies, certainly in your country, to move to SaaS Cloud, and they're moving their whole global operations to SaaS ERP. So you see a lot of innovation down in Mexico, a large desire to take advantage historically. Remember, in Mexico, like Latin America, one of the biggest issues has always been the lack of availability of scaled resources, which in the old on-premise world really hurt you. So when you needed people that could write and extend and customize code, you didn't have the talent there. The cloud world changes all that. You know, the fact that now the IP that's running it at G.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“I've given speeches before where I said in the next 10 years, and I probably started this a year ago, 80% of the corporate data centers will go away in that timeframe. All of DevTest, which is a third of the industry, will go to the cloud. All the commercial applications will go that have a commercial alternative. And security, which is one of the issues we've talked about, will actually flip from being a concern to being a benefit. The security implications in the cloud, particularly of the big enterprise providers, you will be more secure there than you will be in the traditional on-prem world.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“As a huge fear, you know, can you make your cloud as secure as what I do on premise? I always would answer, I have a really hard time making it that bad. That's how weak the security is on premise. But it's been a fear of many customers for a while. Third, there's a lot of politicalization around it. And so let's go through it a little bit. In some countries, there's a view that you can't move data out of the country, whether that's employee data, customer data. And so when you start moving to other countries, there becomes the issue of I want that data domiciled in the discrete country that I'm at. So if I wanted to leverage a cloud provider and that data was moving to insert country here, you just simply can't do it. There's a fourth dimension, which is regulatory issues, which gets down to certain industries. You have certain...”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“No, first of all, I think it has moved relatively quickly. If you think about the cloud business as sort of zero several years ago to 50 billion now, it's growing quite quickly materially faster than anything in the enterprise business because the rest of the enterprise business is in decline. My guess would be enterprise IT intentality is flat to up 1% and in it is the 50 billion or so grown 50%. So it would tell you it is growing fast. Now if you said what are the roadblocks to doing? At first it's a lot easier to say hey let's move to the cloud than it is to actually do it. So there's actually a lot of work to move workloads from here to there. When you start getting into applications and databases all of this stuff is hard to do. Second, let's take care of his point. Security started out several years ago.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“You know, I only worry about it in the context of, I try to be very clear that my number one job is Oracle. My number one job is putting Oracle in the best position to compete and to win. And there are things we've just gone through that I think would be great outcomes for us. My guess is those are the very same things would be great outcomes for other companies too. So we really want to see those things change.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“Make them known to anybody who will listen. I mean, at the end of the day, we need, we Oracle need talented people. I think the fact that they can practice their craft and their trade in the US, pay taxes in the U.S., build great companies here in the Silicon Valley, innovate great products here at Oracle. These are all fantastic things. So listen, we want growth. We want the ability to create great talent. We want the ability to not pay for our earnings twice. We'd love to see the U.S. get more competitive from a corporate tax. I mean, the tax, I know you know all this, Cara, but I mean, the tax base in this country is incredibly high. We need to get more competitive. If you want to attract more companies here, more investment, you've got to get more competitive. So again, we'll see how all this plays out over the next.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“I do. I like trained. We've been very supportive of hiring immigrants that have those that have done a great, they've learned at the best schools in this country. We let them come learn here, but we won't let them work here.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“Sounds great. So I think for us, we assemble all of our computers here in the US, obviously around this campus. We do a lot of our development right here. We hire lots of you. I mean, that's another point that I would tell you is that, you know, we have many talented engineers in U.S. universities. And they've come from someplace outside the U.S. to study at our schools. We'd like to hire them.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“It's a big deal in fairness. It's not just that you want it. I mean, the end of the day is we've got our money overseas. We have today, I don't know, $50-some billion dollars overseas that we'd like to get back. Yeah, I mean, there's a lot of, there's a couple $3 trillion stuck overseas that almost all those companies have paid tax on where they've earned it. Now the opportunity to bring it back here and invest it in this country is a big opportunity. You have most companies borrowing money for their U.S. operations, therefore not investing as much while their money is trapped overseas. The opportunity for us to bring that back and invest it here is a big opportunity to organize.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“But yet you are now. In fairness, we were not involved in the election. A company was not involved in the election at all. And so when we look at what we want as a company, we're a global company. We're headquartered in the US. We want growth to the various points you and I've talked about now for however long we've been talking. So broad economic growth is we think is good. And so the opportunity to drive more growth will be very supportive and Oracle's obviously always been supportive.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“I mean, this whole industry is one of the most Bridge in here when they get a car, they don't buy a pedal and a brake and then put it together in their driveway. You buy a concluded car. I mean, you don't get electricity. You flip a switch, it goes on. And that's basically what happens in the cloud now. You get to get software over the network. So I think this modernization of our industry, so we tend to look more like not entirely, but more like a utility with IP does a couple things. I think it lowers our customers' costs. I think it simplifies things. It allows us, if we do the right job innovation-wise, we talked about one of those areas, like something as fundamental as data and get our customers into the right opportunity where they can spend their money to help grow their businesses. And I think if the valley can help do that and just operates on this, make this simpler, make it easier.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“Well, I don't want to get into some dramatic prediction of this or that. I think our job as an industry is, and much of it emanates here, is to continue to drive innovation to help the customer. Do something different. I think first thing comes we have to make it easier.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“We've got a very interesting valley here. You talk about the Silicon Valley. I mean, you look at 22 miles long, six miles wide. We spent a long time in the enterprise business all as Peace Park companies. I mean, you know this as well as I do. Most of these companies here sell you disk drive or sell you an operating system, sell you a server, sell you this or that. And then we ask the customer, you put all this stuff together and you make it work. I think what customers are saying today is make that easier for me. I can't spend all this money doing that. I need to spend my money doing other things. And I think that's why this cloud thing has so much.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“Well, listen, I mean, we can't. I mean, the only ways I know to grow economies, at least from when I was back in school, was you have more people, you make the more people more productive, you invest capital. Those are the three core ways you grow an economy. So in this...”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“That our customers spend. By the way, if you go back to the SMP, the earnings growth exceeds the revenue growth, which tells me most of our customers are cutting their expenses. That's how they're driving their earnings growth. This stock market, when you look at the stock market and you start to say, why is the stock market up so high? Good question because it's certainly not coming with robust revenue growth. This current quarter is the most robust set of predictions for revenue growth for the S&P in years. So we're talking about four to five percent predicted growth. We'll see if it happens. If that happened, that will be a very positive breakout that we've seen. But I still click back to even GDP in the US. You saw for Q1, not very exciting.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“Difficult. They're competing for $700, $800, $800 billion worth of growth. Now you start clicking that back to somebody who says, I want to grow my company. And most companies grow roughly in line with GDP, trade positive or negative, based on their ability to keep their customers and gain share. So most of our customers are in the position where they have to take somebody else's customers. Right. To drive any real, real growth. And I think it gets back into this whole issue we're describing when we look at IT, IT in the enterprise can be 10, 12, 14, 15% of all the expenses.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“Not robust, it's against $75 trillion, so it's $1.5 trillion. If I further double click on that, I think roughly 40% of all that GDP growth is in one country and it sits in China. So for our customers, if they don't have exposure to China, which is...”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“Well, I start a step before that. I start with our customers, right? I mean, if I look at worldwide GDP growth, just simple, I look at 2%. I've seen people show numbers that are a little better than that. I've seen 1.8212. If I go take that time, sorry?”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“Again, I think companies long run will have strategies specifically around their data. Data will become a currency. The more relevant my data, the more robust my data, the better chance for me to win. And I think our job is to help the customers build out that data set.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“I'd have to validate the exact number. I don't remember, but it sounds roughly right And I think the opportunity for us to continue to make our data business more robust will be a focus you'll see going forward. Again, I predict no ever.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“We don't think so. We think our view is to be agnostic to that. I mean, our view is to be a great provider of data to the degree that we can supplement and help Google, it helps supplement Facebook and also help our customers at the same time we think is a good thing.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“Taking share from others, yeah, because most of the money is fixed in IT. Most of the money is keeping the lights on. So how do I shift that money from keeping the lights on for applications that don't make a difference for me into an area that could make a difference for me and help me grow my revenue, help me keep the customers I've got, and help me expand my customer base. And so that focus and having the data then that supports that strategy becomes a key issue for me.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“Have, but they have to go past that because this has to become if you're a brand, a competitive differentiator for you. This is back to the whole broader enterprise strategy. Would you rather spend your money modifying an ERP and debits and credits and all that? Or would you rather do what we're talking about, which is get to know more about your customers, serve them better in a timely fashion? I'd much rather do the latter and spend my money there to differentiate. The problem you have in the market today is for CEOs who don't, you know, and frankly don't last very long in their jobs. Most of it is there's not a lot of revenue growth out there. The S&P has not grown more than one or two percent in the last five years. And so the ability to grow has to do with taking share. And so getting your money in IT share.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“Think it's bigger than that. I don't think you just want to verify them. I think you as the brand want to own your data, own your knowledge repository of your customers and your market. And so I think it isn't just verify because Verify would be one to make.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“They want me to verify. And they just all of these great brands want to get smarter about the customer so they're not wasting your time. They're not wasting my time. I can do a better job with a very specific offer at the right time with the right thing. To do that, their data has to get more robust and richer. I think long run, long run being defined as you get the next two to five years, companies can't ignore this. They have to focus on enriching their data. If you and I are competitors and you've got better data and you know your customer better than I do, more than likely you win. And so for us, Moat was a part of this aggregated data as a service business. Last points I'll make on it. We spent some time, we bought a company called BlueCy. We bought a company called Data Logics. And MOT is another piece of that entire data portfolio.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“What we do, and both of them are customers of our data business. But we also sell data to other customers so they could, because I think what happens with most brands, Kara, is they want to use their data. They want to use their data at Google. They want to use their data at Facebook because they want their data to become richer and more robust. So the ability, when you talk about ads, the ability for I as the company to learn more about personalization, more about targeting, so that I can target the right buyer with the right offer at the right time through the right.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“Let me try to talk a little bit about it and try to give you context. So I talked a little bit about the software as a service layer, the platform as a service layer, and the infrastructure as a service layer. There's really a fourth piece to this, which is the data as a service layer. And the opportunity now for customers to take advantage of.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“Is not obviously a big scale company, but Canvas. So you don't have that many out there today, and certainly those that have crossed the chasm. I mean, if you thought about just companies in the applications market, the SaaS market that have crossed a billion dollars, I mean, a year ago, there were only four of them. There was Salesforce workday, ServiceNow, and NetSuite, and one of them is gone. He's with us. And then when you go below a billion, you have to go down the stack quite a bit. There's not many even that close to a billion. So the competitive environment.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“I don't see that there are any in the core business that we have that I would say startups, and I think a startup specifically is real startups today, obviously we're very busy. We're obviously serial acquirers. Yeah, I'm going to talk about that. And so we tend to buy, we spend over $5 billion of R&D, but we buy in a lot of innovation based on who we buy. So we're constantly looking. I would say it's interesting in the cloud market that when you look through all of the companies participating today and you talk about M&A, I usually make the comments that, well, we talk about it generically when you start to look for specific companies, there aren't many, many out there to go acquire who are really born in the cloud that have any level of scale, even at the 20, 30, 40 million dollar mark, which, you know,”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“Again, a good company. I'd say in some ways they're similar to us. They've got a very strong position on premise. They've got some applications, very different applications than what we have. They've got office and so forth. And they've done their focus has been try to get office from on-prem into the cloud. They support that with a platform, as I described. They're supporting that with infrastructure. So their strategy, as I read it, makes a lot of sense to me.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, or just or help them with a different piece of technology or modify something. And I'd say, yeah, yeah, we do that all the time. He goes, that doesn't sound like fun. Yeah. And so, when you're in the consumer business, it sounds really easy to go work with these big companies, yet all these big companies have special needs, special strategies that they want you to adapt to, and they have contracts and procurement departments and all of this. So it's not the easiest of moves to go from the consumer world to the...”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“He's like, you know, do you actually get on airplanes and fly and see customers? I'm going, yeah, yeah, yeah. You know, I go do that. And he goes, you know, customers come to see me. Do you actually do special things for these customers? Oh, yeah, yeah, yeah. I have to do unique things. Yeah, a lot of golf too.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“Well, I think that they've done, you know, if you went back to the history of it, they built an IT organization like most retailers when they started, and they built an IT organization that unfortunately had to be built for the bubble of the holiday season. The original thesis was, I've got this excess capacity in the early part of the year, why don't I rent that and leverage the infrastructure I've got that I have for the bubble of the year? And that began the process of starting AWS. I think they've done a good job. Creating a frictionless acquisition environment for customers, not even so much enterprise companies, but the individual developer. Making it easy to spin up and provision a job and get to work. And I think that's been the key piece of innovation that they've delivered.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“IBM still has a big legacy database, and well, there have been a lot of companies try to get at it. Some of this work, exampled by what we've done at AT&T, hard to change. So platforms not nearly as much change. Infrastructure, a lot of change. You've now got the movement of what had been Dell, HP, IBM, operating system companies that would support them, and some percentage of that now beginning to move to the cloud, and those competitors would be who we've described to Amazon and others.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“Thank you. And so, but in the end, I mean, we're going to be competing on cloud SaaS ERP. This is the way customers want to go. I mean, to give you an example, I don't know where we'll end this coming up quarter. We ended last quarter with almost 4,000 customers that are now running their ERP applications in SaaS cloud. This is an amazing speed by which this has transitioned. And I might even say, if I went back three years ago and thought how fast customers would change their ERP to take advantage of the cloud, I probably underestimated the speed by which customers would move. So I would say our competitive landscape has changed in applications. In platforms, probably not a lot of change. I think that there's a lot of talk about, there always has been a lot of talk about different databases that come into the market, but not a lot of change. The three biggest databases in the world today are Oracle, SQL Server, and be very frank with you, IBM.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“Well, let's talk about the applications business. Historically, we would compete most often with SAP. They would have been the historic first round of ERP. The two biggest categories in software over the past 20 years or so are ERP and database. ERP historically, we would compete with SAP. They've really not rewritten their applications for the cloud. Big decision on their part, they didn't do that. Now who do we compete with? Not clear yet. I mean, we have one company who's built an HCM application, Workday. They've tried to do financials, haven't had much success with that yet.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“It's just the way we've been trained. What's in our DNA? And so going back now to try to taking all the friction out of the process and making it this frictionless, a lot of work. And I could go through this process by process by process. The new world for us is different. And we've had to approach each one of these processes looking at it that way.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT
“Financials. Lyft doesn't have a procurement department. They don't have even an IT department per se. And now they want a contract. Well, we can't show up with a bunch of lawyers and a big thick document. So we changed our process to go to click to accept. By the all the terms we'd usually negotiate, we have this big negotiation. There's a bunch of terms that 80% of the time, if you just asked, you got them We made a decision to say, let's just put all of those into the contract and now put it into an automated way. You can just click to accept it and try to get all of the friction out of the process. That single decision Around here is like you got to be kidding.”
2017-06-19 · Decoder with Nilay Patel · Recode Decode: Mark Hurd, co-CEO, Oracle · IDENTIFIED FROM THE TRANSCRIPT