Figma IPO, GPT-5, and a Q+A with Kerry Wang

This week, we’re talking to Accel’s newest partner, Kerry Wang, about her journey from founder to investor, advice for finding the right early-stage partners, and what we can learn from Figma’s “12-year overnight success.”

This Week’s Takeaways

1. Return to first principles during uncertainty. Figma’s journey to IPO was anything but linear, with a bumpy road to product-market fit and a near-acquisition by Adobe halted by regulators. But instead of letting the blocked deal become a “switch flip” that changed their product roadmap or strategy, the team stayed locked on their long-term vision – which in turn, drove their resilience. 

2. Pivots aren’t failures. In Kerry’s experience, successful founders are like “heat-seeking missiles,” able to read the market's signals, make informed decisions, and adjust their paths accordingly.

3. When you’re choosing an early investor, ask yourself: would this be the first person I’d call when I have a problem? Good investors are like the friend who always has your back—and will give you the hard truth when it matters.

Conversation Highlights:

0:53 - Figma’s “12-year overnight success”

6:05 - Is it time to stop numbering AI models?

9:24 - Meet Kerry Wang

10:48 - Co-founding with your twin

12:45 - “Everything is different”: shifting AI norms

14:19 - Founders as “heat-seeking missiles”

17:22 - How do you know when it’s time to exit?

20:26 - Investor green flags