Salesforce buying work-chat service Slack for $27.7 billion
In a deal announced Tuesday, Dec. 1, 2020, business software pioneer Salesforce.com is buying work-chatting service Slack for $27.7 billion in a deal aimed at giving the two companies a better shot at competing against longtime industry powerhouse Microsoft. (AP Photo/Darron Cummings, File)Business software pioneer Salesforce.com is buying work-chatting service Slack for $27.7 billion in a deal aimed at giving the two companies a better shot at competing against longtime industry powerhouse Microsoft. But software as a service has become an industry standard that has turned into a gold mine for longtime software makers. Slack and Salesforce are headquartered about a block away from each other in San Francisco. Slack," Benioff said.
Apple will spend $2.5B to help solve California's housing crisis
Critics say the influx of tech companies and their well-paid workers has contributed to the ongoing housing crisis. "Affordable housing means stability and dignity, opportunity and pride," said Apple CEO Tim Cook in a press release. Google pledged $1 billion in June to redevelop company-owned land for affordable housing and created an investment fund to incentivize developers to build at least 5,000 affordable housing units in the region. The housing issue has received national attention and was a topic of major debate during the last California state election. As tech companies expand, their high-paid employees create a supply-demand imbalance for housing, sending California's home prices through the roof.
Marc Benioff says CEOs must do more
Getty(CNN) - The old adage from Nobel Prize-winning economist Milton Friedman that "the business of business is business" is dead, says Salesforce CEO Marc Benioff. Stakeholders aren't just those who invest in the company, Benioff says, but those in the surrounding community and beyond. But Salesforce, Benioff claims, is already following that model. You cannot wash your hands of your responsibility to the public schools or to the homeless or to whoever," Benioff said. "This is a time where tech CEOs are really confronted with some extremely difficult situations," Benioff said.