Yeah, Adobe would have butchered figma. They’d make marginal improvements no one asked for and squeeze the users for every penny to justify acquisition cost.

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It sounds like the merger was abandoned because of regulatory reasons, the only one I can think of would be that it would create a monopoly in the space. But that seems kind of far-fetched

Yeah so it sounds like. It would absolutely create a monopoly but sooner or later they’d anger enough designers that another startup would eat their lunch.