Decoding Discontinuity

Decoding Discontinuity

Figma’s $20B IPO Tests SaaS in Agentic Era

Figma’s valuation assumes AI mastery its S-1 doesn’t prove. This disconnect reveals critical lessons about Agentic Era Discontinuity.

Raphaëlle d'Ornano's avatar
Raphaëlle d'Ornano
Jul 08, 2025
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Credit: Figma S-1 filing

Decoding Discontinuity Insights provides actionable strategic frameworks in the context of the generative AI Discontinuity, empowering decision-makers in moments of uncertainty. This month, Insights clients who have subscribed to our Institutional tier get exclusive access to a 23-page report that applies our Durable Growth Moat lens to the prospectus of Figma. For qualified institutional investors, contact us to tailor our expertise to your portfolio.

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