Salesforce vs. Siebel (1999-2006)
Salesforce launched cloud customer-relationship management in 1999, while Siebel Systems dominated on-premise sales software. By 2005 Siebel's growth had stalled and Oracle acquired it for $5.85 billion.
Siebel disappeared into Oracle while Salesforce kept compounding.
The episode showed a new delivery model could overtake an entrenched leader faster than incumbents expected.
Rillet's bet is that AI-native beats SaaS the way SaaS beat on-premise software.
