Jason Moser

And when you look at the economics of the company itself, it's a strong business.

I get why shares have pulled back.

I mean, we've seen the software and services sector, essentially, earnings valuation for this sector has just been cut in half.

And that's more or less overnight.

Now, I'm not saying it's not warranted, because I think we're seeing a lot of these companies, we're kind of re-rating the growth prospects going forward and trying to understand exactly how they might be disrupted.

But let's also remember to think about what we don't know here, kind of know what you don't know.

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.