Lucas Swisher

The 25-year-old analysts, this and that, right?

Everybody's gonna have varying degrees of intelligence or opinion, but the public markets are this incredible weighing machine that can give founders and teams amazing feedback on their businesses.

And then the third thing is when you go public, it's sort of harder to touch you.

In some ways, it's easier to touch you from a buying and selling stock, but you're now a public company.

You're now levered to 401ks, to indices.

When you're a private company, people can mess with you a little bit more.

It just is what it is.

They can mess with you.

When you're a public company and you are a big, important public company, it's harder to mess with businesses.

And so you kind of have this rigor around you.

What I love about Canva is they've shown that same ability that Databricks has, where they're able to hop multiple S curves and develop multiple products.

They started as, I'm sure you know the story, but it's incredible.

Mel and Cliff started this business as a yearbook business, making yearbooks.

They successfully transitioned that online.

They successfully transitioned that to SaaS.

And now they've transitioned to many, many, many products, right?

Canva is a suite of like a dozen products that are all growing extraordinarily quickly.

So you have that dynamic.

And then the other thing that I love is they were one of the first companies that really leaned into AI.

I remember Cliff called me about this very early on because we were early investors in Stable Diffusion, if you remember the image generation company.