Adobe's defining moves.
The defining strategic moves at Adobe — each one explained and grounded in the record.
The Reversal · Decision Forks
Adobe's "Brave" Subscription Bet Wasn't Brave. It Was a Monopolist Cashing In.
In 2013 Adobe killed perpetual licenses, drew a 38,000-name petition, and watched revenue fall $348M in a year. The legend says it was a courageous leap. The truth is duller and sharper: only a near-monopoly could have afforded it.
8 min
The Cannibalization Choice · Decision Forks
Adobe Didn't Bet the Company on Subscriptions. It Pre-Sold the Bet Before It Made It.
The legend says Adobe blindsided Wall Street in 2013 by killing the $2,600 box overnight. The real story: a two-year managed transition, pre-briefed to analysts, that engineered a $349M revenue trough on purpose - and the boldness was mostly the marketing.
8 min
The Pricing Play · Pricing
Adobe Didn't Sell Software Anymore. It Started Renting the Exit.
In 2013 Adobe stopped selling Photoshop and started subscribing it - revenue cratered from $4.4B to $4.06B before it climbed. The pivot is taught as visionary. The 2024 FTC complaint over hidden 50% cancellation fees suggests the real product was always the lock-in.
8 min