Jason Moser

We're still asking a lot of these questions as to how this is ultimately going to shake out.

We just really don't know yet.

We're kind of watching it play out real time.

Well, it is a not-loved business today, Travis, that's for sure.

We've seen investors vote with their feet there.

I've owned a handful of shares of Adobe for a while.

It's been a recommendation in a number of our services.

Generally speaking, it's because of just the historical success it's had.

I think a lot of that being brought into question now with the capabilities of a lot of these large language models, I mean,

You see some of the things that Notebook LM is capable of, for example.

You can build some pretty fascinating graphics with just not very much expertise at all.

Then the question for me becomes, what does Adobe do to utilize AI to make their business better?

It's not like they

can't respond to this and say, well, we can offer these same types of tools and we can do it better.

And we are actual businesses here that can support your needs and grow the relationship.

I'm kind of hanging it.

It's not a high conviction name right now, I would not say.

I don't think it is a falling knife.

I think that the company has the wherewithal to respond competitively and utilize AI to make their business better and respond to the competitive threats.

But it is a bigger question mark out there right now than probably some others, I would say.