When Someone Goes Risk-On, Everyone Goes Risk-On “Salesforce is the dominant SaaS company at $180 billion to $200 billion, and Service Cloud is maybe 25% of that, so a pure Service Cloud replacement is only worth 50. To justify $15 billion or $20 billion in market cap, Sierra can’t just build a slightly better next-generation Service Cloud. It has to become the entire customer ecosystem for your whole business, coming right at its former parent. And then everyone else has to follow. When…