00:49:45 · John Coogan
[00:49:45] S1: How how mature is the the thinking around the billing relationship around MCP? Because I have been hungry for integrations that flow through to an agent of choice with that I already have a billing relationship with. Yep. And I mean, I guess the agent can just like shut set up my credit card over there. But it seems like there's an opportunity that could be good for everyone involved. It's a little dicey. It could be app store ish. It could be bad but... And frustrating. But I'm wondering how you're how you're dealing with the trade off of what happens if someone goes to ChatGPT and then says, I want to use Figma, go design it in Figma and then charge my OpenAI account versus take my credit card over to Figma and put it there? Like, how how are you dealing with the trade offs and opportunities and risks there?
00:50:38 · Praveer Melwani, John Coogan, Jordi Hays
[00:50:38] S4: Yeah. Well, I mean, just just to start, I think what we're what we're seeing is that by virtue of how we've orchestrated our our MCP, we've actually given people more reason to hold a full full seat Sure. Than, you know, in prior cycles. So that has driven a benefit in the number of new new paid team conversions, the amount of, you know, folks that are holding a paid seat. Mhmm. We've we've also found though is that, you know, what folks are really trying to do is, you know, if they're gonna kick off a first party workflow in Figma, what we're doing with the first party agent in Figma has got to be has got to be of higher quality leveraging unique context that that we own. And in doing so, they're they're actually getting value from, you know, leveraging the the the AI features in Figma. You know, what what has... What the reality is today is that MCP usage as we've tracked it, you know, through the business is leading to higher retention. Mhmm. [00:51:26] S1: We'll have [00:51:27] S4: more expansion within accounts. And then as you start to put the math together on the credit consumption side, you know, I think that our ability then to farm to different sub agent workflows is gonna be increasingly more important. [00:51:37] S2: Yeah. Jordi? Yeah. There's this interesting dynamic right now where if, like, people are sending agents to your product [00:51:43] S1: Yeah. [00:51:43] S2: It's... It can be an indicator that that there's functionality [00:51:47] S1: Yeah.
00:51:47 · John Coogan, Jordi Hays
[00:51:47] S1: Yeah. [00:51:47] S2: That that that you're not building. I was talking to some people at a at a like a financial institution this week and obviously every finance company in the world is dealing with people like sending their agents to like poke around and do things in their product and they're like scared about that for for a good reason. But to... I was telling them this is just a signal that like you need to do a lot more Mhmm. In your product to to have that same functionality and I think that's what you guys have been doing for like, you know, the last two years. It's like make sure that that the the same, like, sort of, like, intelligence is available wherever you're sort of, like, starting a project from.
00:52:23 · Praveer Melwani, John Coogan
[00:52:23] S4: I also think you have to think about, you know, what are the things that you can do with lower latency, higher quality, and lower cost on your platform that makes it better for for a user to feel like they should be leveraging your first party first party, you know, AI use cases. So we've been developing a first party model now for for some time. You know, we doubled the amount of actions that are powered by that first party model over the course of the quarter. And we hold a whole bunch of unique context of our file system of, you know, the the Figma architecture so that we can actually build a smaller model that's lower latency can can work through those tasks much faster. So I think you have to think workflow when you think about, like, what are the things that you really want to own and where are there areas where it's it's helpful to, you know, almost use the MCP as an acquisition vehicle or rather part of part of the process versus feeling it like like it's combative in any way. [00:53:09] S1: What is it like doing an earnings call when there's all this chaos going on but it feels like you have a pretty clean story? Like there's like the semi trade is like going is getting nuked and then there's the midterms and it feels like you're just presenting like the business is still working, we're still growing, everything's moving along. Do you have to answer questions for... To investors about what's happening in the market broadly, or are you able to kind of just stay focused on the core metrics?
00:53:09 · John Coogan, Praveer Melwani, Jordi Hays, Keller Cliffton
[00:53:09] S1: What is it like doing an earnings call when there's all this chaos going on but it feels like you have a pretty clean story? Like there's like the semi trade is like going is getting nuked and then there's the midterms and it feels like you're just presenting like the business is still working, we're still growing, everything's moving along. Do you have to answer questions for... To investors about what's happening in the market broadly, or are you able to kind of just stay focused on the core metrics? [00:53:38] S4: I mean, I think you definitely take the context of where the world is because you recognize what are the things that people... That are on people's minds and how you can orient the story in a way that, you know, is is both appealing to the way that they're thinking, but then, you know, also is additive in the framework of how they how they view Figma. So, yeah, we go through a bunch of fun back and forth just to to brainstorm what are the things and themes out there. [00:53:59] S2: Oh, sure. [00:54:00] S4: But but I think outside of it, you're right in that, like, our story is clean. I think we've been really, really clear that we're focused on the long term here. Mhmm. And we'll make investments. [00:54:08] S3: You
00:54:08 · Keller Cliffton, Praveer Melwani, John Coogan, Jordi Hays
[00:54:08] S3: You [00:54:09] S4: know, one of the things we did over the course of the quarter was reprice our credits. Sure. We actually doubled the allotment that folks get on our pro plans and grew the allotments on our organized price plan 60% because we knew that in doing so, we experimented our way in there, it would drive credit consumption and, you know, Jevons paradox was starting to play out for us. Yeah. Yeah. And so I think we need to be long term oriented. We need to kinda, like, stick to our guns there, and I think it's the consistency and the consistency of our our execution that'll, you know, that I I wanna be able to use as a track record to to to point back... To point investors back to, and we gotta keep blinders on it and keep going. [00:54:41] S1: I love [00:54:42] S2: it. How are you thinking about token budgeting? There was a headline this week that I guess Apple is sort of like doing reductions or or like adding a lot stricter limits on how much engineers specifically can spend Yeah. Via via API on a on a day to day basis. But what's what's been your philosophy and approach today? Like knowing Dylan, he doesn't seem like somebody who would wanna be like, you know, like he wouldn't wanna have blanket rules around some of this stuff. But I'm curious. It's it's a