比如都有誰？

????（與他的上司不同，赫德拒絕提到競(jìng)爭(zhēng)對(duì)手的名字。其實(shí)這不是什么秘密，IBM和SAP同樣是提供在線和離線軟件產(chǎn)品的大公司，他們也進(jìn)行了硬件收購。）

????你似乎很關(guān)注與甲骨文類似的大規(guī)模的競(jìng)爭(zhēng)對(duì)手，而華爾街則似乎更關(guān)注規(guī)模更小的、發(fā)展更快的競(jìng)爭(zhēng)對(duì)手。

????如果投資者希望投資大型科技公司，他就必須做出決定。你知道，他們是希望投資像甲骨文這樣有著高現(xiàn)金流和豐厚的經(jīng)常性收益、在與你描述的小公司的競(jìng)爭(zhēng)中占有優(yōu)勢(shì)的非常強(qiáng)大的公司？（順便說一句，我認(rèn)為那種說法很牛。）或者說，大家還是希望投資那些負(fù)增長(zhǎng)、老實(shí)說一直在原地踏步的大型公司？作為投資者，必須做出決定。我認(rèn)為我們眼下的實(shí)際操作有點(diǎn)不一樣。我們某種程度上確實(shí)在與一些公司競(jìng)爭(zhēng)，它們非常側(cè)重北美市場(chǎng)，路線單一的公司，或者說就是你描述的搞人力資源或銷售自動(dòng)化的公司。我認(rèn)為，我們現(xiàn)在決定主動(dòng)出擊，痛毆這類公司。這對(duì)投資者而言是個(gè)好消息。當(dāng)然，在這個(gè)過程中我們還能獲得較高的經(jīng)常收益現(xiàn)金流。 （財(cái)富中文網(wǎng)）

????譯者：劉進(jìn)龍/汪皓??

Like who?

????[Unlike his boss, Hurd avoids mentioning competitors by name. It is no secret that IBM and SAP, also big companies with massive on- and offline software offerings, have made hardware acquisitions.]

You seem to be focused on large competitors that look like Oracle, while Wall Street is focused on smaller, faster-growing competitors.

????If an investor wants exposure to big-cap tech, an investor's going to have to make a decision. You know, do they want exposure to a very, very strong, high-cash-flow company like Oracle with material recurring revenue, with a position to compete with the companies that are small, that you described? By the way, I think that sounds like a pretty cool profile. Or do you want some other big cap company that's got negative growth and, you know, frankly is in the position that it's in. You as an investor will have to make that decision. Now, I think that's a little different than us operationally in the sense that, yeah, we are competing to a degree with those companies, albeit perhaps very North America-centric and in a single process, the way you described HR or sales automation. And I think that's good for the investor. That's good for the investor that we're going to go out and whip their butt. And at the same time, you've got this high recurring revenue cash flow machine behind it.