Brayden Dennis

you know it starts eroding faster and faster or it could remain in the freemium approach that they're taking it could actually you know be a really a tailwind for them in terms of growth so i think you can make a case for both but i think saying that one or the other is absurd i think is just people getting a little bit into echo chamber and just anchoring on their own thesis for adobe

Of course it's a possibility.

Anyone who says it isn't, like...

whatever option whatever outcome for like the best company in the world there's always a no matter how small there's always going to be a disaster possibility for a company yeah you pick your most loved company the best company in the world to say that there's like a zero possibility of something happening is just you're you're lying to yourself like you it's

Nothing in zero risk.

That's just the reality.

Yeah.

And obviously, I think for Adobe, it's higher.

But I think people who say like you're out for lunch is just they're completely dismissing the risk.

And I think that's a dangerous place to be in investing, especially if you start sizing your position.

too high because you have so much conviction in something.

Sure.

I thought my puppy had to go pee outside, but I think he's good.

So if you don't take too long, I think we'll be able to make it work.

Yeah, they have like, I was familiar with PeopleSoft.

So their HR management database.

So they're basically, they were, I mean, the use I'm familiar with, it's just database management.

Yeah, but can you really grow to 18% on negative earnings, like under earnings negative?

You can see their earnings for sure.

I'm just looking because I'm like, how does that work?