If I were Adobe, I would start working on an IDE (and library set) for JavaScript + HTML5.  Everything Flash does could easily be JavaScript and a library; their language is already JavaScript anyway.<p>It's time to let their proprietary VM die, because modern browsers already have all those features working better.  Adobe's advantage is in making animation a point-and-click operation that doesn't involve programming.  They need to let Flash die and embrace the open version of Flash; JavaScript.