https://news.ycombinator.com/item?id=34917743
(330 points/4 days ago/85 comments)
That said...The sale was rumored to be about $20b. Does anyone really think that Figma has any chance of producing a return to shareholders even close to that sale price even if they charge customers aggressively?
Adobe is serving their shareholder interests by munching up the competition, Figma is selling to Adobe because of the reasons you outlined, and the regulators are stepping in to represent the interests of the public.
This is very much the system working as-designed
The system was designed to criminalize any attempt to monopolize, not just block the transaction.
The Sherman antitrust act was quite clear about it:
> Sec. 2. Every person who shall monopolize, or attempt to monopolize, or combine or conspire with any other person or persons, to monopolize any part of the trade or commerce among the several States, or with foreign nations, shall be deemed guilty of a misdemeanor, and, on conviction thereof; shall be punished by fine not exceeding five thousand dollars, or by imprisonment not exceeding one year, or by both said punishments, in the discretion of the court.
Later it was made a felony.
It is not enforced this way by the courts.
> The $20 billion purchase price for Figma equated to 50 times its forecast $400 million annualized recurring revenues in 2022
If you think that serves Adobe shareholder interest, you are mistaken.
The harm to citizens outweighs the benefit to shareholders by too much in this case to allow it.
Kanpai!
They could pivot to selling drugs.
Point is, who cares? Shareholders don't have an inalienable right to maximum profits.
I have no idea how to balance this btw.
