I think the thought GP was expressing was that it would be a good time for Zoom to make an acquisition of Keybase paid for in Zoom stock since Zoom stock is trading at a very high multiple of Zoom's earnings.

Some people would regard this stock price as unsustainable compared to historic/similar earnings multiples, and that the stock will likely decrease in value in the "near" future. So from Zoom's perspective they may as well buy as much as they can while their Zoombucks are worth a lot since they'd be parting with fewer shares now than if they made the transaction later on.

Sounds like: stock price is high so use its value to its full extent while the price is high and more valuable. Allows selling/granting of fewer shares of stock too.