Figma is getting crushed in its post-IPO earnings debut; CEO Dylan Field is focused on AI's long term power to 'raise the ceiling'

TechFigmaFigma is getting crushed in its post-IPO earnings debut; CEO Dylan Field is focused on AIs long term power to raise the ceilingBy Allie GarfinkleBy Allie GarfinkleSenior Finance Reporter and author of Term SheetAllie GarfinkleSenior Finance Reporter and author of Term SheetAllie Garfinkle is a senior finance reporter for Fortune, covering venture capital and startups. She authors Term Sheet, Fortunes weekday dealmaking newsletter.SEE FULL BIO At age three, Dylan Field taught himself to use his family computer.MICHAEL NAGLEBloombergFive weeks after going public with a stunning 250 first-day pop, Figma is coming back down to Earth. Shares of design software company Figma plunged 14 in extended trading, as investors took a dim view of Figmas first quarter earnings report. Figma CEO Dylan Field, who cofounded the company in 2012 and watched its 20 billion acquisition by Adobe fall apart in 2023, isnt one to get caught up in the negative. Were at the very start of what I hope is a long term relationship together, a confident Field told listeners as he kicked off the earnings call, taking advantage of the opportunity to demonstrate Figmas presentation technology. Prior to the call, Field spoke to Fortune and shared his thoughts on one of the most important trends affecting his business: AI. No one knows whether were going to look back in five years at everything thats happening right now in AI and say, Oh my God, those were the bubbliest of times, Field said. Or: Wow, we totally underestimated the effect it would have on society. *Reporting by Fortune.*