Earlier quoted context omitted.
I'm curious, what exactly are the ramifications of this "contract law" in the context of Adobe subscriptions? Adobe will sue you? Are they suing large amounts of customers?
They'll send you to collections, which'll ruin your credit.
Figma and Adobe abandon proposed merger
441–450 of 1001 posts
Re: Figma and Adobe abandon proposed merger
#442Earlier quoted context omitted.
You are mistaken. The purpose of a company is to make a profit and provide a good or service. In that order. Everything else is a hobby.
Nope. Profit follows the goods and services, not the other way around.
Generally speaking, private non-subsidized companies that offer goods and services for sale cannot actually survive without any profit, right? They can bootstrap for a while with investment, but they tend to die, statistically speaking, if they prioritize goods and services over profit. The way companies tend to survive death is by doing everything they can to ensure that the sale of their goods or services generates a profit. You might also be temporarily forgetting that it’s also incredibly common for companies to pivot on what products they make and sell whenever they’re not making enough profit.
TBH it actually seems really funny to me argue about which comes first, because the kind of company we’re talking about needs both, it doesn’t otherwise exist. But the idea parent shared, that profit takes the highest priority, is often absolutely true in practice, many companies will do everything they can to avoid not making a profit, from lowering the quality of their goods and services, to coming up with other more profitable products, to merging with another company that has more customers for your product and/or a longer runway.
Re: Figma and Adobe abandon proposed merger
#443Earlier quoted context omitted.
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> Software engineers are mercenaries hired to create value for shareholders, and anything else is just delusion. Value is a sustainable product, not some shovelware piece of crap. If the shareholders don't see that then that's their problem, and it's probably best to part ways and warn everyone you know from working with them.
Re: Figma and Adobe abandon proposed merger
#444I am opening a bottle of champagne as we speak. It is time to remove electron based app and invest in something that will have a proper memory management. Not only 2gb. My phone has more than this. You have cornered the market. Now deliver.
Re: Figma and Adobe abandon proposed merger
#445Earlier quoted context omitted.
I don't think that's a correct analysis. Adobe is very good at building software. It's not the problem. It's not that Adobe can't compete with Figma. It's that they don't want to. Adobe has a great engineering team and ships wonderful products. The problem with Adobe is that the business side is anticompetitive, exploitative, and sleazy. Buying Figma, they lose a competitor. Competitors have a nasty tendency to expan…
> Adobe is very good at building software. Is that actually true? XD attempted to directly compete with Sketch and Figma, and was not generally considered to be a success at that primarily because they couldn’t ship features fast enough to catch up.
Premier is, well, the premier photo editing app.
Every designer knows illustrator. UX/UI is just a subset of design.
Many web developers who were around before the HTML5 era will swear by Dreamweaver.
Re: Figma and Adobe abandon proposed merger
#446Earlier quoted context omitted.
This sounds on point. In the small startup M&A market, maybe 50% of deals are falling through? Of the 50% that don't fall through, the vast majority are closing only after being renegotiated in the last hour, e.g. buyers promising to pay $x, but in the last hour the buyer changes their offer to $x/2.(These are deals with zero regulatory review) Most common issues is buyers backing out because they couldn't secure the…
Where are you getting those numbers from? The valuations of small acquisitions are closely held information; afaik there is no place to just look this stuff up.
This kind of information and what really goes on behind the scenes is rarely revealed. Mainly because if I told you about the shitstorm story of a top tier VC trying to buy my company and the deal exploding, that VC will do everything in their power to bury the story and make sure I'm personally not able to operate in the industry in the future.
The people at the top of tech are cut throat individuals. (And the people at the "top of tech" are not CEOs... they're the investors. The people who sit on boards who you never hear about. And that's the way they like it)
Re: Figma and Adobe abandon proposed merger
#447Anyone else think this has nothing to do with the regulatory agencies but instead the market has dramatically shifted in the past 15 months in terms of valuations and this is a nice cover to cancel the deal? Figma still gets $1B "investment" without giving up any equity or control and Adobe gets to walk away from a massive $20B fee. Adobe makes $17B a year in revenue, they would need some pretty strong growth out of…
I could believe this but if so why wouldn’t Figma fight to get the deal through? $20B is a lot to leave on the table, assuming they’d already emotionally accepted to lose control of the company? Why settle for the $1B “fuck off” consolation?
In the end 3 probes is way too much legal tape for even Adobe to step into hence the abandoned deal being cheaper in the long run than fighting to acquire Figma.
Re: Figma and Adobe abandon proposed merger
#448Earlier quoted context omitted.
Nope, from Adobe’s 8K filed today with the SEC: “On December 17, 2023, the Company and Figma mutually agreed to terminate the Merger Agreement and entered into a mutual termination agreement effective as of such date (the “Termination Agreement”). The mutual termination of the Merger Agreement was approved by the Company’s and Figma’s respective Boards of Directors. In accordance with the terms of the Termination Agr…
> the Company will make a cash payment to Figma in the previously agreed amount of one billion dollars ($1,000,000,000) (the “Termination Fee”) within three business days following the date thereof Three business days to wire $1b, the week before Christmas. That has to be a fun phone call with the bank.
If you think im joking no I’ve designed it for major banks.
Re: Figma and Adobe abandon proposed merger
#449Earlier quoted context omitted.
imo, Adobe is falling behind. Photoshop's generative AI is substantially worse than what I can get from models on Tensorart/CivitAI + an upscaler. It's way easier to produce something that can go live right now without much editing in CivitAI -> Upscale in Magnific -> Add to Canva.
>Photoshop's generative AI is substantially worse than what I can get from models on Tensorart/CivitAI + an upscaler. But with Photoshops, I can generate things to be seamlessly placed into my existing scene, with it understanding things like placing the wheels of the car it just inserted on the ground, with a shadow underneath and such, again seamlessly integrated with my existing image. It's very much not just abou…
Eg: https://www.youtube.com/watch?v=No1_sq-i_5U
You can do that with any part of the image, this video shows a face sample.
Re: Figma and Adobe abandon proposed merger
#450While I do see this as great news (for all the reasons others have outlined), I wonder how this will impact VC in the future; If the current goal is for companies to get VC money, burn that cash for years and years and years, and then have a huge IPO or acquisition (that makes it all worth it), it would seem regulatory issues would start to scare away investment.
I’d hope this somehow influences regulators too. 15+ months of uncertainty and it’s the tiny UK market that tanks things. The lack of regulatory certainty will push for more lobbying and influence peddling which I think is net worse for the global industry.
As we saw with the Blizzard acquisition the UK CMA will bend to international pressure if it's the only one holding out.