slo capital

slo capital

Adobe

Owning the Creative Internet

Justin's avatar
Justin
Nov 25, 2025
∙ Paid

If the internet had a backstage, Adobe would own most of the doors, the lighting grid, and the fire marshal. You don’t always see it. You just notice that nothing quite works the same when it’s missing.

At ~$321 per share, the market is treating that backstage pass like any other software license. I don’t think that’s quite right.

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