Anish Acharya

Again, I think that these are all heuristics that we use and we throw it around.

First of all, I want to say, I respect the difficulty of getting to a million in revenue, dude.

It is so hard.

Getting anyone to pay you anything that's not a family member or a friend is hard.

And then going from one to five or 10 is super hard.

And 10 to 100 is tremendously hard.

So one, I think that it's, I hate it when investors are very flip about this.

And then to know, look, I think it's all about the sort of assumptions that the founder is making, the data as a way to validate those assumptions and the kind of direction, the what if it works, what is the sort of direction of the curve, what's the area underneath it, right?

Totally get you.

And by the way, sorry to interrupt, there are companies that are area under the curve companies where it may be a much more complex sort of slower growth story, but the area under the curve is much more significant than companies that have very high slope, but potentially have challenges with defensibility.

Absolutely.

Yeah, area under the curve.

And what do you have today with Figma?

You have an N of 1 network effects product that, by the way, is sort of ahead of where I think the market is going in terms of moving from products focused on execution, which today are being subsumed by coding agents, to markets focused on thinking.

And I think a lot of the thinking work is going to be done in products like Figma.

I'm not sure that Dylan and team saw that 10 years ago, but I think they're well positioned today.

I think the challenge for area-under-the-curve companies is that you've got to have enough momentum that you can continue to fundraise.

You've got to have enough substantiality that your customer loves you, they're willing to pay you upfront, they're willing to expand with you.

It has its own idiosyncrasies and difficulties, but I think often some of the most significant companies are these area-under-the-curve companies.

Look, there are these 20-year overnight success stories.