Anish Acharya

It probably won't be Adobe.

Will Adobe make a better Photoshop and Illustrator than ever before?

Will Adobe make a better Photoshop and Illustrator than ever before?

Probably.

Probably.

I don't know if it'll create more value, but I think that it is under-discussed how much value it's going to create.

I don't know if it'll create more value, but I think that it is under-discussed how much value it's going to create.

If you think of what the models are, so if we lived in a world, and we were actually thinking about this a lot in 2022 and early 2023, which is if you had a single foundation model company, which at the time was OpenAI, which was a whole generation ahead,

If you think of what the models are, so if we lived in a world, and we were actually thinking about this a lot in 2022 and early 2023, which is if you had a single foundation model company, which at the time was OpenAI, which was a whole generation ahead,

then they essentially were this unique supplier to everybody downstream in the innovation ecosystem.

then they essentially were this unique supplier to everybody downstream in the innovation ecosystem.

And they could do what you would do if you, for example, you know, controlled the Beatles and you're the only record label to have the Beatles.

And they could do what you would do if you, for example, you know, controlled the Beatles and you're the only record label to have the Beatles.

Like it's like, do you want the Beatles or not?

Like it's like, do you want the Beatles or not?

You can charge 99% of your customers gross margin and you do and you actually tend to charge 100 or 110%.

You can charge 99% of your customers gross margin and you do and you actually tend to charge 100 or 110%.

So that actually was a big risk to the ecosystem.

So that actually was a big risk to the ecosystem.

What has instead happened is we have all these foundation model providers.