Aug 7, 2026 · 25 min
Canva faces AI headwinds while eBay wrestles with executive misconduct
Canva’s $60bn Problem and eBay’s Corporate Terrorism Scandal
This episode exposes the fragile valuations of tech giants in the AI era and the catastrophic consequences when corporate governance fails to restrain executive misconduct.
- 1Canva's thirty percent growth rate faces intense pressure from emerging AI design tools and established tech giants.
- 2An acquisition by a frontier AI developer like OpenAI or Anthropic may be Canva's best long-term exit strategy.
- 3The eBay harassment scandal highlights critical vulnerabilities in corporate governance and the urgent need for executive accountability.
Don't miss
The detailed breakdown of the bizarre and terrifying harassment tactics employed by eBay executives against independent newsletter publishers.
The brief
Hosts Adam Schwab and Adir Shiffman break down Canva's financial landscape, questioning if a thirty percent revenue growth rate can justify its massive sixty billion dollar valuation as artificial intelligence reshapes the design software market.
While Canva remains a powerhouse, the rapid rise of frontier AI models raises the stakes. The hosts debate whether Canva's ultimate survival relies on an exit strategy, such as a strategic acquisition by AI giants like OpenAI or Anthropic.
The conversation takes a dark turn into corporate misconduct as the hosts dissect the shocking eBay harassment scandal, where company executives systematically terrorized a couple running an independent e-commerce newsletter.
This disturbing case study exposes severe systemic failures in corporate governance, prompting a broader debate on how boards must restructure executive accountability to prevent extreme corporate overreach and protect public trust.
What was said on this episode
17 statements · 5 positive · 10 negative · 2 mixed
Canva’s latest growth result is disappointing for a leading Australian private tech company.
“it was actually a pretty disappointing result for Australia's most valuable private tech company”
Listen at 1:06
Canva’s 30% growth represents a major slowdown.
“So 30% growth rate is a huge deceleration for the Sydney based giant.”
Listen at 1:22
Figma trades at roughly nine times revenue despite growing faster than Canva.
“Figma, despite growing faster trades on a revenue multiple of 9x”
Listen at 1:39
Anthropic is substantially stronger as a business than Canva.
“Anthropic is a superhuman business. And Canva has come down to just being a very fast human business.”
Listen at 4:08
Canva is solid but less exceptional than previously believed.
“I think a solid business and a really good Australian business, but not anywhere near I think what anybody thought they were.”
Listen at 4:15
Under the stated profitable-growth scenario, Canva could be worth 50% more.
“That is a 50% higher valuation than their current value.”
Listen at 5:25
Canva’s valuation is difficult to justify above five times sales.
“So if Figma's nine times multiple it's pretty hard to justify Canva being much more than five times sales multiple I would have thought.”
Listen at 8:10
Canva should prioritize selling the business for maximum cash proceeds.
“Canva's entire focus right now should be selling this business to someone and taking as much of it in cash as humanly possible.”
Listen at 9:26
OpenAI, Anthropic, and Google are unlikely to want to acquire Canva.
“I don't think any of these three actually want to buy.”
Listen at 10:30
An OpenAI acquisition of Canva would strongly improve both companies’ investor perception.
“I think OpenAI buying Canva would be a rocket underneath them both in terms of investor perception”
Listen at 12:30
Canva’s slowdown is problematic because valuation expectations were based on 40% growth.
“when you've set expectations of 40% and you're now at 30% and your vowels on 40, that's, that's, that's the problem.”
Listen at 14:15
Canva’s AI competitiveness narrative is weakened by its growth falling from 40% to 30%.
“everyone who's competitive in the landscape is growing 1000% and you've gone from 40 to 30, it's problematic for that story.”
Listen at 14:26
eBay’s security operation amounted to corporate terrorism funded by shareholders.
“It's. It's literally corporate terrorism that was happening here. Paid for by ebay shareholders, no less”
Listen at 18:24
eBay should receive a $1 billion fine to deter corporate terrorizing.
“I would literally find eBay $1 billion for this transgression so that no company in the future would ever dream of doing something like this.”
Listen at 20:00
eBay’s CEO should face highly visible criminal accountability.
“The bigger thing you do is you'd put the CEO on a perp walk”
Listen at 20:11
Companies responsible for such misconduct should receive serious fines.
“And in the meantime like, this stuff is completely unacceptable. And yeah, I think that companies should have serious fines.”
Listen at 22:42
Long-term equity-heavy compensation can encourage executives to behave properly.
“one way to keep executives doing the right thing is give majority of your remuneration equity and make it 10 years.”
Listen at 24:43
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.