Figma

“It's the largest private company purchase I believe in history.”

“You have to think of pricing as not an element by itself, but as sort of the most important element of a go to market strategy. And there's no way that you can basically reprice Figma completely as part of some other bundle and expect not to create massive dis…”

“They're going to be, you know, at somewhere between one and a half and two billion of ARR.”

“And for anyone who's doing a SAS company and you're in it five years and you still have zero revenue And like, that doesn't mean you're dead. I mean, they basically were a zero for five years. Absolutely nothing. And now it's a twenty billion dollar exit five …”

“If you asked me, if I was a betting man, I think this thing is going to close.”

“When they promise the founder that you'll be left alone, that usually lasts two years. That's coincidentally, usually the length of the earn out or the golden handcuffs.”

“So even if you set out a team and said, just copy exactly what Figma has with a co-pilot. Enabling 50 engineers. That's like 500 engineers cranking on something. I would be surprised if they couldn't just replicate the product end to end.”

“Figma has no interest in competing with Photoshop. They're not going to compete. They, they're much more interested in AI. They're much more interested in doing things like prompt to design to code. They're not interested in building, you know, a Photoshop com…”

“And that, that Figma Adobe deal, it was a twenty billion dollar deal, but with the rise in Adobe stock, it's really a thirty billion dollar deal if it would have been consummated, because half the consideration was in Adobe stock, and that has basically double…”

“The fact that regulators took 15 months to analyze the deal, only to come to the conclusion that they basically weren't going to allow it, and then Adobe finally killed it, is going to have a chilling effect on M&A in Silicon Valley. I mean, if acquirers and t…”

“Figma filed their S one Q one revenues, two hundred and twenty eight million. You remember they were going to get bought by Adobe before, before it got stopped. And they have thirteen million monthly active users, a billion and a half in cash, no debt.”

“They ran a 43% operating cash flow margin in Q-one. So in Q-one of this year, Figma generated ninety-five million dollars of free cash flow. They've got net revenue retention of like a 130%.”

“CEO Dylan field has 75% voting power.”

“Figma is going to try to raise 1.5 billion in their IPO.”

“Anthropic's chief product officer had actually even served on Figma's board and didn't resign until three days before the launch of Claude Design.”

“And I'll make this prediction here, that you're going to see some of the major customers Of Anthropic and major customers of OpenAI. I'm talking about the eight and nine figure customers, people spending fifty million, a hundred million a year. They're leaving…”