20VC: Figma's 250% Pop - The Greatest IPO Mispricing Ever | Meta and Microsoft Blowout Quarters: Broken Down | Cognition Raises at $15BN and Ramp at $22BN | CRV Downsizing and What It Means for LPs and GPs

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch · Aug 7, 2025 · 1h 20m

Agenda:

00:00 – The Worst IPO Mis-Pricing Ever: What Really Happened at Figma

02:30 – Fidelity vs Founders: How Important is Fidelity When Going Public

07:00 – Why Founders Secretly Want a Pop, Even If It Makes Them Look Stupid

10:15 – The Truth Behind the $3B Figma "Left on the Table"

14:00 – Direct Listings vs IPOs: Should Figma Have Gone Direct

23:00 – CEO Compensation is Broken, Brian Halligan Doesn't Hold Back

29:00 – The New Normal: Growth Rounds with Elon-Style Moonshot Packages

33:00 – Is Canva Next? Why Founders Should "Run, Forrest, Run" to the NASDAQ

36:00 – The Case for Going…