AE's Selling Figma post IPO performance?

I just read a piece on Barrons about Figma’s IPO performance and it got me wondering something that isn’t really about the stock at all.

Wall Street is basically spooked by AI right now. Not just for Figma, Adobe too. The narrative seems to be that “vibe coding” + AI-native tools eventually eat a lot of what big software platforms do.

But I’m more curious about what’s happening in actual sales conversations.

If you’re selling Figma (or something adjacent), are prospects starting to say things like:

• “Can’t AI just do this now?”
• “Why not use [insert AI tool] instead?”

Or is this mostly an investor/media thing that hasn’t really hit deals yet? Keen to hear your thoughts...