But anti-trust isn't being invented now. It's always existed. Companies already factor in anti-trust risk when doing M&A—it's just hard to quantify the expected

But anti-trust isn't being invented now. It's always existed. Companies already factor in anti-trust risk when doing M&A—it's just hard to quantify the expected value of that risk If anything, IMHO, we've been too lenient with anti-trust in Tech in particular over the past 5-10 years. This just dials things back a little, and makes it so that "hard to quantify" risk is a little more likely than it was before, and certainly a little more likely than zero I don't think Adobe / Figma specifically is an "otherwise obvious deal" precisely because it has such obvious anti-trust risk. The fact that this merger was even announced is all the proof I need that we were being too lenient. Figma can still sell to any number of huge Tech companies