There may be no moats. Just distribution winners.
Adobe is going to get absolutely trounced by GenAI. They've got so many competitors coming at them from all angles.
Also, innovation capital (engineers at startups) experience outsized rewards at startups when disruption happens. The better engineers will flock to more nimble outfits and reap the benefits.
Adobe is a dinosaur.
I got to talk to a product engineer about some of their work back in 2021, and he was describing generative (and even generative-editive) capabilities they had in hand that most associate with the last two years, they were just figuring out how to productize them, many of which they have.
I have my own complaints about Adobe products and choices but they are far from out of the game, and they’re probably going to be fine, especially if a lot of people make the mistake of thinking of them primarily as a dinosaur Figma competitor.
Figma is a whole lot easier to replace actually you can now actually with a self host OSS that came up with and bring your own api key from antrophic or open ai
MongoDB wants a word.. another "this will never amount to anything" HN special.
