Figma grew revenue 46% last quarter. Its stock is still down 85% from the IPO peak. Anthropic putting editable artboards inside Claude Code is the exact scenario that gap has been pricing in for a year. A design mockup is a message, from the person imagining the interface to the person building it. Every design tool since Photoshop has been built for composing that message, and Figma won by making it collaborative. When the same agent designs the screen and writes the code, the message has no…