The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20VC: Figma Founder Dylan Field on The Biggest Mistakes Young Founders Most Often Make, How To Go Slow To Go Fast With Venture Dollars & How The Design Process Will Fundamentally Change Over The Next 5-10 Years

Apr 19, 2019

Dylan Field, CEO of Figma, shares insights on launching a product after a 4-year journey. He discusses challenges in building a tools company, maintaining morale, and satiating VCs desire for fast growth. Learn about Figma's Series C round led by Sequoia, board construction, and fostering trust with VCs. Explore the future of design, empowering designers, and the importance of user experience in businesses.

35:12

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Episode guests

Dylan Field

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Success in startup landscape requires strategic planning and perseverance in finding market fit.

Fostering a culture of healthy debate, prioritization, and effective communication is essential for growth.

Deep dives

The Rise of Figma in Design Innovation

Figma, led by founder Dylan Field, has revolutionized the world of design by providing a collaborative platform for design, prototyping, and collaboration. With an impressive financial backing from top investors, Figma has redefined how designers create and work together, emphasizing the importance of design in the success of modern businesses.

Introduction

3min

Journey from Internships to Entrepreneurship

14min

Navigating Board Management, Prioritization, and Fostering a Culture of Healthy Debate as a CEO

3min

Navigating Hiring Challenges and Finding Top Talent as a Young Founder

4min

The Future of Design and Empowering Designers

8min

Gratitude, Sponsorships, and Expert Insights

3min

Dylan Field is the Founder & CEO @ Figma, the startup that provides a better way to design, prototype and collaborate, all in the browser. To date, Dylan has raised over $82m in funding from some of the world's best investors including Sequoia, Greylock, Kleiner Perkins, Founders Fund, Index Ventures and more. Prior to changing the world of design with Figma, Dylan held roles at Flipboard, Microsoft and LinkedIn and was part of the renowned Thiel Fellowship.

In Today’s Episode You Will Learn:

1.) How Dylan made his way from Thiel fellow to changing the world of design and prototyping with Figma?

2.) What is the story behind the 4-year journey to the launch of their first product? How did Dylan maintain morale with such an extended window between creation and launch? What are the core challenges of building tools companies and getting initial traction? How did Dylan satiate VCs desire for fast growth with such a long period to launch? Is it possible to "go slow to go fast" with VC dollars?

3.) Sequoia led Figma's Series C, how did the round come together? What was it that made Dylan choose the lead investors for each of his rounds? How did this round compare to prior rounds led by Index, Kleiner and Greylock? How does Dylan advise founders to build relationships of trust and transparency with their VC in short period of time?

4.) How did Dylan approach the topic of board construction? What did he most want to get out of his board? What have been some of Dylan's biggest learnings when it comes to board management? What has Dylan found the most challenging element?

5.) As a young founder himself, where does Dylan see commonalities in the mistakes that other young founders make today? As a young founder, how has Dylan been able to hire A** talent execs? What have been some of the biggest learnings on team assembly and construction through the process?

Items Mentioned In Today’s Show:

Dylan’s Fave Book: Stronger, Faster, and More Beautiful

As always you can follow Harry, The Twenty Minute VC and Dylan on Twitter here!

Likewise, you can follow Harry on Instagram here for mojito madness and all things 20VC.

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The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20VC: Figma Founder Dylan Field on The Biggest Mistakes Young Founders Most Often Make, How To Go Slow To Go Fast With Venture Dollars & How The Design Process Will Fundamentally Change Over The Next 5-10 Years

Episode guests