Figma, every mention
130 scenes (2025), the whole family · ← back to Figma
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every year 2025 anyone Harry Stebbings 425Jason Lemkin 133Rory O'Driscoll 25Dylan Field 21Sean Boscanian 19Kyle Parrish 16Mamoon Hamid 9Everett Randle 8Gokul Rajaram 7Des Traynor 7
Verbatim, from the transcripts: the passages where Figma comes up
Predictions for 2026: Top Buy & Biggest Short | Why Salesforce Could Win & NVIDIA’s Challenges · 20VC with Harry Stebbings
- ▶ 9:21 unnamed speaker They had Figma, where they were the seed investor, and it's not an exit, but Revolut, where they just raised at seventy-five billion, and they have an early position in.
Will Cursor Kill Figma? Lightspeed Raises $9B & OpenAI’s $1B from Disney & #1 App in App Store · 20VC with Harry Stebbings
- ▶ 34:54 Harry Stebbings Jason, is this the first credible threat to Figma's position where design decisions start? 9 times in the scene
- ▶ 47:03 Jason Calacanis Could I just go back to one point on cursor versus Figma? 3 times in the scene
- ▶ 1:17:21 Harry Stebbings You've got a Figma at seventeen billion or Cursor at 29. 3 times in the scene
a16z's David George on the Most Controversial Bet at a16z & Do Margins and Revenue Matter in AI? · 20VC with Harry Stebbings
- ▶ 21:53 David George Uh, the 15 would be, we led two more rounds in flock safety, or, you know, we led another round, um, you know, into Figma, or, uh, you know, we, we put more money into SpaceX.
SpaceX Valued at $800BN & Harvey Raises $160M at an $8BN Price & Netflix Acquires Warner Brothers · 20VC with Harry Stebbings
- ▶ 3:07 Jason Lemkin We had some IPOs that traded weak, like Figma, 2 times in the scene
20VC: Inside Bending Spoons Acquisition Machine: Evernote, Eventbrite, Vimeo | How Evernote Evaluates Acquisitions and New Product Ideas | How Evernote Mastered Product Launches, User Retention and Monetisation with Federico Simionato
- ▶ 20:14 Federico Simionato Sitting down with customers, having conversations with them, showing them prototypes on Figma, for instance. 2 times in the scene
- ▶ 25:20 Harry Stebbings You said, hey, we, we get Figma mockups, and then we'll show them to customers.
- ▶ 26:12 Harry Stebbings Do you do Figma and Figma make? 4 times in the scene
Anthropic Raises $30B from Microsoft & NVIDIA & NVIDIA’s Core Business Faces TPU Threat · 20VC with Harry Stebbings
- ▶ 1:04:31 Jason Lemkin And then the 30% plus, which is Rubrik, Palantir and Figma, average 23.7 X AR, but, but Palantir and Rubrik push that up.
- ▶ 1:18:36 Harry Stebbings We've got Figma, obviously IPO price and where they are now. 6 times in the scene
Base44’s Founder, Maor Shlomo on How Vibe Coding Will Kill SaaS · 20VC with Harry Stebbings
- ▶ 12:02 Harry Stebbings You know, I've had the founders of Salesforce, Benioff, Atlassian, Mike Cannon-Brooks, Cloudflare, Matt Prince, uh, Dylan Field from Figma, uh, even Carl Pei, the founder of Nothing, the phone company, has created their own
- ▶ 16:50 Harry Stebbings You've got the figmas, the cloud flares, the atlassians, the sales forces in, like, the incumbent insertion point, and then you've got the canvas on the other, kind of more consumer end. 2 times in the scene
20VC: Max Altman on The New Seed War: Can Anyone Compete with Sequoia and a16z | Leaving $2BN on the Table with Reddit | Lessons from Backing Rippling at $25M Post | Why Climate Tech is a Mirage and Disaster
- ▶ 2:55 Harry Stebbings No Figma imports, no messy HTML, just design, iterate, and ship all in one place, and it's completely free to start.
- ▶ 1:18:53 Harry Stebbings No Figma imports, no messy HTML, just design, iterate, and ship all in one place, and it's completely free to start.
20Product: How AI Changes Product Design | Does the Design Phase Become Irrelevant in a World of Vibe Coding | The Five Pillars of Truly Great Product Design with Carl Rivera, Chief Design Officer at Shopify
- ▶ 33:54 Carl Rivera You don't need the Figma for it. 4 times in the scene
- ▶ 39:19 Carl Rivera And this is true even in, you know, if you look at Figma, like Figma Design and Figma Make are sort of like bifurcated experiences that they sit apart.
- ▶ 39:19 Carl Rivera And this is true even in, you know, if you look at Figma, like Figma Design and Figma Make are sort of like bifurcated experiences that they sit apart.
- ▶ 39:19 Carl Rivera And this is true even in, you know, if you look at Figma, like Figma Design and Figma Make are sort of like bifurcated experiences that they sit apart.
Michael Burry Shorts NVIDIA and Palantir & Has Defensibility Died in a World of AI? · 20VC with Harry Stebbings
- ▶ 36:58 Harry Stebbings Figma Make is doing very well.
Benchmark's GP, Everett Randle on Why Mega Funds Will Not Produce Good Returns · 20VC with Harry Stebbings
- ▶ 9:48 Everett Randle If you think about his huge, huge winners, whether it's Figma, Glean, Rippling, they all have like a common through line of the, you know, it's B to B software, but it's almost like consumer like software that, that demands really high…
- ▶ 52:44 Harry Stebbings Do you remember when Andrew Reid did Figma? 3 times in the scene
- ▶ 54:38 Everett Randle And I think the other reason why models are not useful beyond that simple framing is that every successful investment, you just feel like if you were to model Figma's growth, 4 times in the scene
20Sales: Why You Need a CRO Pre-Product | Why Remote Sales Teams Do Not Work | How Snowflake Built a Sales Machine with Chad Peets
- ▶ 4:03 Harry Stebbings No Figma imports, no messy HTML,
- ▶ 1:08:45 Harry Stebbings No Figma imports, no messy HTML, just design, iterate, and ship all in one place, and it's completely free to start.
Is a $4.5BN Exit Enough in VC? & Harvey Raises $150M & Why Google is a Buy and Amazon is a Sell · 20VC with Harry Stebbings
- ▶ 5:08 Rory O'Driscoll So I want the 20% pop on Figma, that became obviously a much higher pop, in return for the risk of a 20% drop on Navan. 2 times in the scene
OpenAI Restructuring: Who Wins and Who Loses & Mercor Raises $350M at a $10BN Valuation · 20VC with Harry Stebbings
- ▶ 45:52 unnamed speaker 18% of them greater than a five X, about 10% of them greater than a 10 X, and one deal Figma returned a hundred X. 3 times in the scene
- ▶ 1:10:51 Harry Stebbings Um, I don't know if you're a Synthesia, you're looking at Dylan and Figma going, God, do I want to put myself in that potential 18 month waiting period?
20VC: The Startup Adding $1M ARR Every Week | Competing Against OpenAI's Codex and Claude Code: Who Wins | Why Gemini is Failing and GPT-5 Is Winning | Do Margins Matter in a World of AI | The Ugly Truth About AI Coding with Zach Lloyd, Warp
- ▶ 46:38 Zach Lloyd Well, so Dylan introduced me to Andrew, cause you know, Andrew's on Figma's board and Andrew and I really hit it off. 2 times in the scene
20Sales: Scaling Snowflake from $0-$3BN in ARR | Snowflake vs Databricks: My Biggest Lessons | Why Customer Success is BS and What Replaces It with Chris Chris Degnan
- ▶ 3:41 Harry Stebbings No Figma imports, no messy HTML, just design, iterate, and ship all in one place.
- ▶ 1:01:54 Harry Stebbings No Figma imports, no messy HTML, just design, iterate, and ship all in one place.
OpenAI's Multi-Billion Deal with AMD & Polymarket, Vercel and Supabase Raise Mega Rounds · 20VC with Harry Stebbings
- ▶ 17:00 Harry Stebbings So if we progress this forward then to Devday, which we touched on slightly there, and why don't we start on kind of, one of the major announcements was the opening up of apps into ChatGPT, so you can essentially use your Figma's, your…
Are Burn Multiples BS in an AI World? & Sam Altman Needs $1TRN of Energy · 20VC with Harry Stebbings
- ▶ 33:55 Harry Stebbings Figma is down 63% since IPO day at peak. 4 times in the scene
20Product: Revolut Business $1BN Revenue: Five of the Biggest Product Lessons | How Revolut Structures Product and Design Teams | How Revolut Experiments and Invests in New Product Bets | How Revolut Ships Product So Fast with James Gibson
- ▶ 1:54 Harry Stebbings I've been rebuilding our show site, and honestly, it felt like redesigning in Figma, but this time, it went live.
- ▶ 23:13 James Gibson So the designer will literally present Figma and say, okay, we've got a new problem we're looking to solve.
- ▶ 23:42 Harry Stebbings In a world today of AI and vibe coding, people are suggesting that we're going to move away from this kind of design phase first in Figma and move straight to prototyping.
- ▶ 52:03 Harry Stebbings I've been rebuilding our show site, and honestly, it felt like redesigning in Figma, but this time it went live.
The Impact of H1B Visas on Startups in the US & NVIDIA Invests $100BN Into OpenAI · 20VC with Harry Stebbings
- ▶ 54:58 unnamed speaker So suddenly, I mean, there's some, I mean, let's take the index example at Figma. 2 times in the scene
Opendoor CEO, Kaz Nejatian: OpenAI and Oracle, How Can Either Afford to Do This · 20VC with Harry Stebbings
- ▶ 1:07:46 unnamed speaker So if Adobe could do that, if Figma could do it, right? 2 times in the scene
- ▶ 1:29:10 unnamed speaker but, uh, you know, in the end, Scott wanted to buy Figma.
- ▶ 1:29:18 unnamed speaker But yes, just think if they bought it, you'd be getting those little pop-ups from Figma, too, telling you, you know, you've used up your license for Figma Adobe Cloud. 3 times in the scene
20VC: Why AI SDRs are BS and Do Not Work | How to Use AI in Your Sales Team and Process to Win Today | What Skills Do All New Reps Need to Have in an AI First World with Amit Bendov, CEO @ Gong
- ▶ 3:03 Harry Stebbings I've been rebuilding our show site, and honestly, it felt like redesigning in Figma, but this time, it went live.
- ▶ 32:43 Amit Bendov People want to know, like, what does Gong do, or what does the, you know, Figma do, and then they have to go through, like, a series of interviews.
- ▶ 1:05:25 Harry Stebbings I've been rebuilding our show site, and honestly, it felt like redesigning in Figma, but this time, it went live.
OpenAI’s $10BN Secondary Sale, Ramp Hits $1BN ARR & Brex Hits $700M · 20VC with Harry Stebbings
- ▶ 33:16 Rory O'Driscoll And I think they don't need anyone to matter because they have figment. 6 times in the scene
- ▶ 1:23:59 Harry Stebbings So what price will Figma be at in 365 days?
Anthropic Raises $13BN & OpenAI Buys Statsig for $1.1BN All Stock · 20VC with Harry Stebbings
- ▶ 5:14 Cliff Obrecht And then for, for us, we priced our round before Figma went out, ah, and had all those conversations and relationships. 4 times in the scene
- ▶ 41:15 Harry Stebbings In the show, we, we actually mentioned you, uh, you probably heard it, sorry, uh, where we were like, you know, Figma goes out, Jason's like, Figma goes out, sees the pop, and if I were you, I'd be going back to the team going like, 2 times in the scene
- ▶ 43:52 unnamed speaker The public markets now are giving me cheaper capital than the private markets, because if you're, if all the numbers are as reported, you're getting roughly 10 X revenues, and the fine folks at Figma are getting between 17 and 30,… 3 times in the scene
Anthropic's $10B Round, Klarna's IPO, Inside a16z's 72 Deal Seed Investment Machine ft. Marc Benioff · 20VC with Harry Stebbings
- ▶ 32:24 unnamed speaker And so I literally, I mean, even if you abstract away from that, when you look at the amount of volatility Figma has had since the IPO with not, it hasn't even had a, a quarter hasn't even gone out like these high beta stocks.
- ▶ 56:50 unnamed speaker It's not making money like Figma. 5 times in the scene
BVP Partner, Byron Deeter: The Future of Venture - Why Chanel vs Walmart is BS · 20VC with Harry Stebbings
- ▶ 39:24 Harry Stebbings Now you're seeing that move to the public market, and you're seeing your figmas pop in the way that they do, your core weaves, your circles, your bullish pop yesterday.
- ▶ 42:45 Harry Stebbings I messaged him after the Figma IPO.
Databricks at $100BN, CoreWeave’s $11B Debt Bet & Nubank’s $2.5B Profit Shocker - Ep.19 · 20VC with Harry Stebbings
- ▶ 6:37 Jason Lemkin Figma and crazy IPO we just had, right?
- ▶ 7:15 Harry Stebbings There's an interesting question to be had here, which is given what we've seen with Figma, Core, Weave, and Circle, if you had the likes of Canva and Databricks go out, they're better. 5 times in the scene
- ▶ 11:52 Jason Lemkin And, and the Klaviyo's and Figma's, but the mega ones, I think it could just be a, a, a force of nature coming.
- ▶ 24:45 unnamed speaker About two trillion dollars worth of savings into every year integrate new investments in companies like Figma.
Lovable CEO, Anton Osika: The State of Foundation Models, Grok vs OpenAI, and Replit vs Bolt · 20VC with Harry Stebbings
- ▶ 27:53 Harry Stebbings And what I mean by the steps before is you see at the other end of the spectrum Figma doing Figma make, where they're like, hey, we'll always have the design process, and then we'll move with you into the second phase of that product… 6 times in the scene
- ▶ 27:53 Harry Stebbings And what I mean by the steps before is you see at the other end of the spectrum Figma doing Figma make, where they're like, hey, we'll always have the design process, and then we'll move with you into the second phase of that product… 2 times in the scene
- ▶ 35:51 Harry Stebbings So when we look at, we, we've spoken about many different kind of, ah, competitors in different ways from your figmas to your replas.
- ▶ 1:13:08 Harry Stebbings But you must look across your, your figmas, your bolts, your replets, your, 4 times in the scene
Sam Altman's Masterplan or a Gift to Anthropic? Palantir & Shopify Crush Earnings · 20VC with Harry Stebbings
- ▶ 5:52 Jason Lemkin But this wasn't, this is, this is not, this is like Figma, us saying Figma was dumb, they didn't understand the IPO pop from last week.
Index Ventures Partner, Martin Mignot: Figma, Scale, Wiz: Inside Index’s Decacorn Factory · 20VC with Harry Stebbings
- ▶ 49:00 Harry Stebbings Figma is a great example of an incredible business that wasn't maybe obvious for quite a few years actually. 5 times in the scene
- ▶ 1:18:52 Harry Stebbings For me, when you look at the eight to nine, sorry, you've got Revolut, Figma, Wiz, Scale,
Figma's 250% Pop - The Greatest IPO Mispricing Ever? Meta & Microsoft Blowout Quarters: Broken Down · 20VC with Harry Stebbings
- ▶ 0:00 unnamed speaker The people who said, oh, Figma left three billion dollars on the table.
- ▶ 1:07 Harry Stebbings We're just going to start and dive in with the Figma IPO. 3 times in the scene
- ▶ 5:03 Brian Halligan In your, in, in your Figma, 2 times in the scene
- ▶ 9:06 unnamed speaker The people who said, oh, Figma left three billion dollars on the table because they could have got 95 dollars a share, are talking out of their ass. 2 times in the scene
- ▶ 10:40 unnamed speaker All those big buyers who came in at Figma at 38, before they buy, they have an internal process with a price target to exit.
- ▶ 13:56 Harry Stebbings Um, the one thing that I do think is that if we're Dylan now at Figma, are we thinking, you know what?
- ▶ 17:27 Brian Halligan They always had a lot of hedge funds in there, and they always had a lot of, um, uh, individuals in there, and our timing was pretty good, not great, but pretty good, and Figma's timing was obviously really good.
- ▶ 20:19 unnamed speaker You don't want to take your picture staring at the, at the big drape of Figma outside Wall Street. 3 times in the scene
- ▶ 37:46 unnamed speaker Now you have a situation where, you know, maybe at the IPO price for Figma, 20, 10, 15 times, actually 18 times revenues, you kind of go, I can get that privately.
Miles Dieffenbach: Inside Carnegie Mellon’s $4BN Endowment & The Math Behind DPI, TVPI, Illiquidity · 20VC with Harry Stebbings
- ▶ 42:45 Miles Dieffenbach I mean, largest shareholder in Figma, largest shareholder in Dream Games, largest shareholder in Wiz, um, you know, second largest shareholder in Scale.ai, Revolut.
- ▶ 45:53 Miles Dieffenbach Where even if you do own 10% of a generational twenty billion dollar outcome, which is still gonna be generating, you know, Figma. 3 times in the scene
- ▶ 1:05:39 Harry Stebbings Scale, Wiz, Dream Games, Figma, Revolut, Secondaries, um, Circle, uh, CoreWeave, uh, Hinge Health, which IPO'd, uh, Chime, 2 times in the scene
Why Apple Needs a Management Overhaul & Why Google is Catching Up with Hyperscalers · 20VC with Harry Stebbings
- ▶ 4:49 Jason Lemkin It's not that you don't have the skills of evaluating your relationship building or schmoozing, but I, you know, there's a lot of the best founders, you know, they just want the same guys that are in Figma, the same funds that are in Figma.
- ▶ 1:04:55 Harry Stebbings It's just Figma is obviously going to IPO this week. 13 times in the scene
- ▶ 1:11:26 Harry Stebbings I mean, they're going after it with Figma Make.
20Product: Should We Kill the PM Role Entirely | How Does Product Design Change Most in a World of AI | How Do Monzo Build Product Today: What Works, What Does Not | Why Most Product Sucks and What Makes Truly Great Product
- ▶ 15:59 Fernando Fanton My role is to create a Figma.
How Do All Providers Deal with Anthropic Dependency Risk & Figma IPO Breakdown: Where Does it Price? · 20VC with Harry Stebbings
- ▶ 35:05 Harry Stebbings We're going to pivot away a little bit from just the AI central, which is the other big news that we touched on before in another show was the Figma IPO.
- ▶ 1:15:23 Jason Lemkin And this one isn't, this isn't Figma yet.
Windsurf x Google x Cognition: Full Breakdown: Who Made Money, Who Did Not · 20VC with Harry Stebbings
- ▶ 8:06 Rory O'Driscoll Figma and Vitaly. 2 times in the scene
- ▶ 40:01 Jason Lemkin And a hundred percent of designers will use Figma. 3 times in the scene
Figma’s IPO: The Full Breakdown & Why Melio’s $2.5BN Acquisition is “Discouraging” · 20VC with Harry Stebbings
- ▶ 1:01 Harry Stebbings So Figma filed for the S-one last night. 6 times in the scene
- ▶ 20:55 Harry Stebbings I think this is the problem, though, when we look at fund sizes of today and saying how large they are, and not actually picturing 10 years out to what outcome sizes will be in 10 years' time, because bluntly, you know, thirty billion… 3 times in the scene
- ▶ 41:55 Jason Lemkin You want to sit out index and, uh, and Kleiner and Sequoia after, uh, after Figma, probably you probably, you don't, you're not allowed to sit it out.
20Product: How Duolingo Build Product 10x Faster with AI | Duolingo's Biggest Lessons on Paywalls, Push Notifications and In-App Purchases | Why Small Teams are the Future of Product | Why PMs Will Become Extinct with Cem Kansu, CPO @ Duolingo
- ▶ 9:21 Harry Stebbings Do you do Figma? 3 times in the scene
- ▶ 20:02 Harry Stebbings Does Figma become obsolete in the world of wrap, let's say? 3 times in the scene
Elon’s Empire: SpaceX, Tesla, Neuralink After the Storm & Anduril’s $2.6BN Power Move · 20VC with Harry Stebbings
- ▶ 10:16 Harry Stebbings The question for me is, does this very positive response across the board with the IPOs that we've seen, not does it lead to the window opening more, I think we all agree it does, is does it lead to the window opening to Databricks, to… 2 times in the scene
Windsurf CEO & Co-Founder, Varun Mohan: AI's Biggest Acquisition to Date! · 20VC with Harry Stebbings
- ▶ 35:14 Varun Mohan Like internally right now, when we build apps, we're not very, very quickly going to Figma at the very beginning if the app can be built
- ▶ 35:37 Harry Stebbings I'm just fascinated, like where, where all of it converges together, as we said, you meet the lovables and the bolts in the middle, and then the figmas are coming in now and actually saying, Hey, turn design into code and kind of coming in… 3 times in the scene
20VC: ElevenLabs Head of Growth on Why You Do Not Need PMs | The 7-Part Launch Playbook That Gets 700K+ Views Per Product | The Truth About CAC, Payback & Performance Marketing in AI with Luke Harries
- ▶ 52:26 Luke Harries Sketching out in Figma of like, ok, this is what I think the product should look like, and then step three is you have system architecture, so they're like, ok, this is the different backend, the API design, and if you hire an engineer…
Rippling vs. Deel Lawsuit: WTF Happens Now? The Future of the Late Stage Private Market · 20VC with Harry Stebbings
- ▶ 7:20 Jason Lemkin But if the markets are wide open, Figma's out, chimes out.
Duolingo Co-Founder, Severin Hacker: How AI Impacts the Future of Work and Education · 20VC with Harry Stebbings
- ▶ 41:28 unnamed speaker You know, if it had just been a Figma design, we probably was like, ah, you know, ah, maybe, maybe not.
20Product: Figma CPO on How Figma Builds Products: What Works, What Does Not | How Figma Does Testing and Product Reviews | The Future of Design, Engineering and Product with Yuhki Yamashita
- ▶ 0:09 Harry Stebbings Joining me in the hot seat, we have Yuki Yamashita, chief product officer at Figma, where he leads the development of one of the world's most beloved design platforms.
- ▶ 5:52 unnamed speaker I think at Figma, we try to think about it in terms of offering people different modalities, allowing them to be in the same artifact together while 3 times in the scene
- ▶ 6:49 unnamed speaker Figma slides also has design mode. 3 times in the scene
- ▶ 6:56 unnamed speaker And get access to all the features that you expect from Figma design. 3 times in the scene
- ▶ 8:11 Harry Stebbings Can you take me inside what happens next in this magical product machine of Figma? 6 times in the scene
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