比如都有誰？

????（與他的上司不同，赫德拒絕提到競爭對手的名字。其實這不是什么秘密，IBM和SAP同樣是提供在線和離線軟件產品的大公司，他們也進行了硬件收購。）

????你似乎很關注與甲骨文類似的大規模的競爭對手，而華爾街則似乎更關注規模更小的、發展更快的競爭對手。

????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金流和豐厚的經常性收益、在與你描述的小公司的競爭中占有優勢的非常強大的公司？（順便說一句，我認為那種說法很牛。）或者說，大家還是希望投資那些負增長、老實說一直在原地踏步的大型公司？作為投資者，必須做出決定。我認為我們眼下的實際操作有點不一樣。我們某種程度上確實在與一些公司競爭，它們非常側重北美市場，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化的公司。我認為，我們現在決定主動出擊，痛毆這類公司。這對投資者而言是個好消息。當然，在這個過程中我們還能獲得較高的經常收益現金流。 （財富中文網）

????譯者：劉進龍/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.