5 ms·

Everyone focused on the "vibe-coded, solo-preneur in 6 months" headline is being tricked. First, the details show this is not a "hallucination" but a misreprese

by skeeter2020 1y ago

Everyone focused on the "vibe-coded, solo-preneur in 6 months" headline is being tricked. First, the details show this is not a "hallucination" but a misrepresentation of the facts, aka a lie. Second - and far more important - Wix did not buy the code output of an LLM, which anyone could easily reproduce, they bought the subscribers, funnel and team that built the business, not the code.

billy99k 1y ago
This is the true value of any software-based business, not the code.
- disgruntledphd2 1y ago
  Yup. Always worth looking at goodwill on accounting statements post these acquisitions and thinking about how that is often the actual value of a software/tech business.
- reaperducer 1y ago
  This is the true value of any software-based business, not the code. A pithy statement that is like candy to VC ears, but falls down if you think about it even a little. Nobody is going to buy Adobe for its client list.
  - jplrssn 1y ago
    Maybe not for the client list, but possibly for the team. How much would the code of say Photoshop be worth if the entire Photoshop team were to leave and set up a competing business?
    - CaveTech 1y ago
      More than the team with no product. There's a huge difference between large entrenched businesses and early-stage startups. Turnover in large corporations is huge, the team has turned over multiple times already, they can do so again. An early stage company that barely has any code? Yes, in that case, it's the team that matters because they haven't fulfilled the vision yet.
runako 1y ago
> they bought the subscribers, funnel and team that built the business, not the code This is strikingly similar to just about every tech acquisition in history. Buyers purchase the assets, potentially including part of the team, needed to produce a reproducible business outcome, however one defines those terms. What is striking is how quickly the team was able to assemble a reproducible business outcome worth so much.

billy99k 1y ago

This is the true value of any software-based business, not the code.

disgruntledphd2 1y ago
Yup. Always worth looking at goodwill on accounting statements post these acquisitions and thinking about how that is often the actual value of a software/tech business.
reaperducer 1y ago
This is the true value of any software-based business, not the code. A pithy statement that is like candy to VC ears, but falls down if you think about it even a little. Nobody is going to buy Adobe for its client list.
- jplrssn 1y ago
  Maybe not for the client list, but possibly for the team. How much would the code of say Photoshop be worth if the entire Photoshop team were to leave and set up a competing business?
  - CaveTech 1y ago
    More than the team with no product. There's a huge difference between large entrenched businesses and early-stage startups. Turnover in large corporations is huge, the team has turned over multiple times already, they can do so again. An early stage company that barely has any code? Yes, in that case, it's the team that matters because they haven't fulfilled the vision yet.

runako 1y ago

> they bought the subscribers, funnel and team that built the business, not the code This is strikingly similar to just about every tech acquisition in history. Buyers purchase the assets, potentially including part of the team, needed to produce a reproducible business outcome, however one defines those terms. What is striking is how quickly the team was able to assemble a reproducible business outcome worth so much.