The Digital Pen That Costs Millions
Written by: Jerry from The Smartin Team
What is the Deal with DocuSign?
You ever notice how we’ve replaced the most dignified human act—the signature—with a frantic series of clicks on a glowing yellow box? We used to have pens. We had ink. We had stationery! Now, we have DOCU. You sit there in your sweatpants, clicking “Next” forty times until a computer tells you that you officially own a house you haven’t even walked through yet.
And what are we paying for? It’s a PDF with a security guard. DocuSign is essentially the digital version of that guy at the bank who chains the pen to the desk. They’re charging corporations millions of dollars to ensure that a digital scribble is “authentic.” Authentic? I’m clicking a mouse with my left hand while eating a bagel!
The stock market treats this thing like it’s the invention of the wheel. During the pandemic, DOCU was the king of the world. Why? Because nobody wanted to touch a pen that another human had breathed on. We were all terrified of the “communal pen.” So, the stock went to the moon. Everyone was signing everything! I’m surprised people weren’t DocuSigning their grocery lists.
But now, the party’s over. The world opened up. People are actually—get this—going outside. They’re meeting in offices. They might even be sharing pens again! And suddenly, the growth isn’t looking so “hyper.” It turns out, once everyone has a way to sign a document digitally, you don’t need a second way to sign it. It’s a “one and done” utility.
The competition is breathing down their neck, too. Every software company on the planet has realized they can also make a yellow box you can click on. When Adobe is your rival, you’re not just fighting a company; you’re fighting the very concept of a file extension.
Is DOCU a “buy”? I don’t know. It feels like buying a company that specializes in specialized envelopes. Sure, everyone needs envelopes, but do I want to bet my retirement on the guy who licks the stamps? It’s a fine product, but at these valuations, you’re paying for a gold-plated pen when a Bic will do the job just fine.
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