Not on Cap Table

E4: Blocked - The Regulator Who Changed Figma’s Fate


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When Big Tech tried to swallow the world’s favorite design tool, one regulator said no—and watched the story ripple to Wall Street.

In this candid episode of Not on Cap Table, we go behind the decision that stopped a $20B acquisition and opened the door to Figma’s historic IPO.

🎧 A Whispr Studios original.

🌀 Listen now on ⁠whispr.studio⁠

🟣 Stream on Spotify & Apple Podcasts


This is a fictionalized dramatization inspired by real events. Any resemblance to real companies or individuals is purely coincidental.

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Not on Cap TableBy whispr studio