Cailen D'Sa

Figma employees got hit with the worst 1-2 timing punch ever. Should have had a huge acquisition exit from Adode, but then the global regulatory environment killed that deal. So they go public and hit a market cap 3x of the acquisition price, and everything looks up. Then AI makes massive strides in the 6-month post IPO lockup period and the stock drops -80%.

they didn’t need to add the “hard” there did they

Figma got crushed on this one :/ Anecdotally seeing more companies task design work to the product team already.

For the rest of the year, the word for everyone working at the frontier of AI will be: Prosumer

Recent earnings call, Aneel Bhusri of Workday says startups with AI agents are "parasites" This is what system of record incumbents really think of startups. The war is just beginning. The facts: the user data belongs to the users, not the incumbent software vendor.

Rippling launched its AI analyst today. I'm not just the CEO - I'm also the Rippling admin for our co, and I run payroll for our ~ 5K global employees. Here are 5 specific ways Rippling AI has changed my job, and why I believe this is the future of G&A software. 🧵 1/n

KeyBanc on $TEAM Atlassian Announces 10% RIF to Get on AI Offsensive and Focus on GAAP Profitability; Reaffirms F3Q and FY26 Guidance; Last week, Atlassian announced a restructuring that will result in the elimination of ~10% of the Company's workforce. We recently caught up with the Company to better understand context and timing. We conclude that the RIF: 1) enables TEAM to self-fund R&D and enterprise sales, while also driving some margin to the bottom line, as Atlassian had previously "staffed up" to finish platform investments for Cloud/Collections, and is in a position to moderate headcount growth going forward; and 2) brings the Company back on the path toward GAAP profitability. Net, we view the rationale positively. OW PT $170

Re: SaaS death - I actually know of two separate SaaS companies that had employees leave in the last two years to build competitors and in both cases the competitive products are now dead, with zero traction. And the people that left those companies were very, very smart. And the products they built were the same shape as the companies they left, and they used AI to build them. But they had absolutely 0 success.

I’m on week five of trying to vibe code a replacement for some dumb saas that we use and it’s so incredibly frustrating that I’m slowly realizing it’s actually a quite complex and thoughtful piece of software.

Intuit’s distribution moat One of the most powerful moats for software is a proprietary distribution channel. Intuit has incredibly sticky and loyal mindshare and distribution among the CPA community. When I was doing my startup, I tried to use another accounting software, but my CPA forced me to cancel that other subscription and switch to Quickbooks. It was an eye opening attestation to the strength of their hold on CPAs. I think Intuit will be extremely hard to displace as the accounting platform of choice for SMBs.

BREAKING: Meta, $META, is planning sweeping layoffs that could affect 20% or more of the company, per Reuters