Harry Stebbings

The one thing, and I don't like to pick on amazing companies.

The one thing, and I don't like to pick on amazing companies.

I mean, I was around when one of my partners years ago was early at Adobe and she recounted, to your point, they had 90% market share and were stocked just below a billion dollars for four years.

I mean, I was around when one of my partners years ago was early at Adobe and she recounted, to your point, they had 90% market share and were stocked just below a billion dollars for four years.

Turns out when you sold everyone PDF, you get stock.

Turns out when you sold everyone PDF, you get stock.

My vent on that company is they have milked their users for so long that it just feels a piece of financial engineering.

My vent on that company is they have milked their users for so long that it just feels a piece of financial engineering.

Interacting with the product, it's always the login are crap.

Interacting with the product, it's always the login are crap.

I don't even understand the licensing model.

I don't even understand the licensing model.

I don't even know what I can use and not use.

I don't even know what I can use and not use.

So my sense is it's like being a PE-owned without ever being PE-owned.

So my sense is it's like being a PE-owned without ever being PE-owned.

They've extracted every piece of value.

They've extracted every piece of value.

And someone's going to have to go in there and kind of rethink through what it takes to make their users love them.

And someone's going to have to go in there and kind of rethink through what it takes to make their users love them.