Everything Cameron Adams said on any show that made the record, most notable first. Each card names its show and opens the statement there.
A lead investor attempted to halve Canva's valuation on signing day
“It was all rosy until the final day when they had to sign the long docs, everyone else had signed, everyone else had put in money. And this investor came back to us and said, you know what? We think we overvalued you. We think we can get better deal. How about…”
Adams: Canva ignored early investor pressure to follow Lean Startup playbook
“The Lean Startup book actually launched in the year that we launched, it was like, 2012, and investors were quoting it at us, and like, telling us to launch as quickly as possible. We kind of ignored them because we knew what we wanted in the product, and we k…”
Cameron Adams: AI innovation speed will slow down within five years
“In five years time, I would say that AI innovation will have slowed by then, and a lot more will be standardized. Social patterns will be established of like how we interact with AI. The possibilities of what LLM can do are very well understood and known, and …”
Adams: Prompt-only AI interfaces in five years would show product failure
“But if in five years time, the way that we interact with AI is purely just through prompts, I think it will have displayed a total lack of imagination from us as product builders.”
Adams: Paid AI add-ons will commoditize into standard tiers
“I think in the short term, it might allow them to make more money. So, like, I think Microsoft and Google both have add-on packages that you pay for to get access to their AI stuff. I think that's a very short-term thing where it'll just become commoditized, p…”
Adams: Canva operates in a different category than Adobe
“We really consider ourselves to be in a totally different category. Like, literally. When we started, design was something that one percent of the world could do, and we wanted to bring it to the other 99%.”
Adams: Iteration without a strong initial vision cannot build a lasting company
“That notion that you can kind of iterate towards a product or even a company or a business model, if you don't have a strong vision to start out with, your heart won't be in it.”
Adams: Canva does not have traditional managers
“We don't really have managers.”
Tech companies shouldn't build proprietary LLMs because they are now commoditized
“You don't need to create an LLM because it's a commodity thing now, and there's a bunch of providers who can do it way better and have way more resources to do it with than you do.”
Cameron Adams says coach-mark onboarding fails because users forget every step
“I think at the time, and still you get a lot of onboarding that is coach marks. It like points over here and says, Hey, you might want to do this thing. And you click through the steps at the end of it. You've totally forgotten every single step. And you're ju…”
Adams: Grassroots growth creates chaotic enterprise networks requiring centralized control
“Building community is all about getting individual users to love it and talk about it to other people. And that kind of growth doesn't quite work in an enterprise setting because you end up with a very disorganized and chaotic network graph inside an organizat…”
Adams: Single-feature AI microservices are failing due to low underlying value
“I think we're seeing, particularly in the AI space, we're seeing a lot of hype and churn and real microservices, and you're also seeing a lot of those startups kind of fall by the wayside as well as the real, you know, value of them comes to light, and it's no…”
Adams: AI content expansion won't decrease content value as quality wins
“I don't think the value decreases. There's definitely more people creating stuff, but as you very well know, great content rises to the top.”
Adams: Canva was first to scale generative images to 100M+ users
“We were first product to like truly scale generative images to over a hundred million people.”
Adams: Signposting upcoming product changes via email or social is useless noise
“More generally we try not to signposts ahead of time because it's just a lot of noise. Like you get so much email, so much social spam, a message telling you about a change that's coming is just going to fly over your head.”
Adams: Less than 1% of Canva users skip major UI updates
“Oh, not 10%. I would say less than one percent.”
Adams: Unseating a common enemy is an uninspiring company focus
“Not as your primary focus. Like if you're, if your goal is all around you know, a cervically trying to bring someone down, that's not particularly inspiring. We always focus on what is our vision of the future?”
Adams: The nature crisis will be more seismic than climate crisis
“Wedgetail is focused on the nature crisis, which is kind of the next big thing coming after the climate crisis. And it's probably going to be even more seismic.”
Lead investor demanded a 50% valuation cut two days before Canva's closing
“Got to the stage where every other investor in the round had signed on. They were like super excited. They'd wired the money into our bank accounts already. They'd signed all the long docs, but the lead investor hadn't, and about two days before they were due …”
Canva employs 800 to 1,000 internal coaches instead of traditional managers
“So we've got probably close to 800 or a thousand coaches now at Canva.”
Google approaches product management primarily from a technical scaling perspective
“Google's a fantastically engineering driven culture. And the way that they think about product management is mostly in the technical sense of like, Here's a piece of technology. What can that technology do? How do we scale it?”
Canva's founders committed after two hours in person and two Skype calls
“I think we officially spent two hours in person, two separate Skype chats, and that was it. A few emails. We didn't have any working sessions.”
Canva has grown to 230 million monthly active users
“Going from zero to two hundred and thirty million people that now use Canva every single month.”
Canva rejected early investor pressure to launch an unpolished initial product
“Few investors asked us to ship a bit earlier than we would have. And we always said, no, we know what the product is. We know what we want to put out there as the first version.”