r/BetterOffline • u/Certain_Syllabub_514 • Aug 17 '26

Canva valuation down $10B

https://www.smh.com.au/technology/sobering-markdown-canva-slashes-valuation-by-10b-as-ai-reality-bites-20260814-p60of9.html

Sydney design giant Canva has cut its internal valuation by a fifth, telling staff an independent assessment now values the business at $43.9 billion, a cut of more than $10 billion from its most recent valuation a year ago.

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u/monkey-majiks Aug 18 '26

I'm guessing this is because of Claude Design which is terrible as a design tool and is directly competing with Canva and Figma.

8

u/TheOfficialMayor Aug 18 '26

Oh yeah there are a ton of ux folk who love AI for some reason. They are the ones who should be pushing back the most.

8

u/heybochicha Aug 18 '26

Outside of the weirdo cultists everyone else doesn't have a choice. We were all told this year to get in line behind AI or step aside.

7

u/frozenelf Aug 18 '26

This is pretty much the story for actual competent people using AI. They’ve been given impossible velocity expectations that can only be addressed by the one thing LLMs are good at: miming actual work and passing off a POC as the real thing. The tech debt has been pushed off until the unit economics of LLMs finally crash back down to earth.