Jason M. Lemkin explains how Canva became a serious competitor to Adobe despite regulators missing the shift, pointing to Google's failed HubSpot deal as evidence of misread markets. Adobe's leadership, including Scott Belsky, may have strategic reasons beyond what regulators see.
What Canva did and Canva snuck up on Adobe I think. Right. So I mean we wait. I think every company uses Canva even if your designers are using Creative Cloud. So it's much bigger deal. I think. I do think the regulators got this one wrong and maybe even they got it wrong. Who knows because of this is why the Google HubSpot thing might be worse and maybe it's how they were lobbied or manipulated because I don't think it's competitive. Can you just. Nor would I think they would have done the deal if they genuinely believed it was competitive. They wanted to expand their surface area. Sky Scott wanted to. Scott Belsky, I mean he's great. You've had him. Right? They wanted to expand their surface area. They didn't want to take out a competitor that would be trying to buy Canva would be taking out a competitor. They wanted to expand what Adobe did. Can you just help me out on the question of liquidity?
