Figma burns $300K/day on AWS, but its data moat makes it a buy, says ex-competitor

sahilypatel · x · 2026-09-06

An engineer who worked at three Figma competitors is bullish on the stock after its 50% drop, revealing Figma's AWS bill runs $300K/day. His case: sticky enterprise revenue from org-wide design systems, a proprietary data moat for training "Figma Make", design/taste as the differentiator in the AI era, and a decade-hard multiplayer browser canvas. Figma holds both surviving moats: proprietary data and network effects.

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