. >> for more on this deal and the broader tech m&a landscape let's bring in phil drury. it's good to have a banker in tech on today, phil on this deal you're not involved you can talk about it why do you think the market hates it so much >> i think it's early. it tells you two things. focus on figma first which is say it shows you that good private companies have alternatives the i.p.o. market for the most part is closed, obviously this is another alternative that figma chose to sell. from adobe's standpoint it shows large cap companies with significant cap positions motioned to move when it comes to strategic decision making it as it relates to the stock price, it's early. there's a lot of focus on public markets obviously to market every day. private companies are not. it's early analysts need to digest the news i think it's a strategic move by adobe and it will take time for the market to digest. >> adobe is paying up here because they're buying a private company and those valuations haven't caught up with public valuations >> less transparency in the private markets.