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HOME/THE VC CORNER/Building in Public Is Not What I…
NEWS
// NEWSLETTER ISSUE
THE VC CORNER

Building in Public Is Not What It Used To Be

DATE June 29, 2026SOURCE THE VC CORNERPARTICIPANTS THE VC CORNER
In this episode
// SUMMARY

1. Key Themes


Theme 1: AI Has Collapsed the Cost of Cloning, But Not the Cost of Competing

The barrier to starting a clone has fallen to near zero, but the barriers that actually matter — distribution, customer trust, and persistence — remain largely unchanged.

"The capability threshold for starting a clone has collapsed. More people can open a repository, describe a feature set and produce something uncomfortably familiar. That creates more noise and anxiety. But the conversion from starting a clone to becoming a competitor who takes your customers follows different economics."

"Distribution does not appear because a prompt compiled. Persistence does not come bundled with a code assistant. Customer trust, sales patience and repeated iteration still have to be earned."


Theme 2: "Building in Public" Bundles Two Very Different Activities — Judgment and Blueprint

The article argues that founders have conflated sharing their thinking (high value, defensible) with sharing their operational machinery (low value, leaky). AI has made separating them urgent.

"The judgment layer shows how a founder reads the market, what they believe buyers are missing, which tradeoffs they refuse to make and what failure taught them... The blueprint layer is everything else. SaaS metrics, MRR screenshots, stack breakdowns, vendor dependencies, exact numbers."

"The blueprint made content easier to consume while contributing almost nothing to trust. It was always the lower value half. It rode alongside the real asset, borrowed its credibility and got mistaken for courage. Now it is also the leaky half."


Theme 3: In an AI-Accelerated Market, the Original Founder Has an Asymmetric Informational Advantage

Faster iteration cycles actually favor the original builder because their clone is always a stale snapshot, while the original accumulates live customer context.

"A clone is just a snapshot of what you have already made visible... In a faster iteration world, the clone is stale on arrival. The original has the customer conversations, support tickets and roadmap debates that never became public."

"Agentic AI coding gives both sides speed, but only one side has live context."


Theme 4: MRR Transparency Is Becoming an Adverse Signal

As mature founders with real moats go quiet on specifics, the build-in-public feed skews toward early-stage or low-defensibility businesses — making radical openness itself a signal of weakness.

"As founders with real defensibility pull back from specifics, the public feed becomes skewed toward people with less to protect... That is how a market for build-in-public attention begins to resemble a market for lemons."

"The founder posting every channel, number, tool and tactic may be honest and useful to follow. But the post also raises an unintended question, why does none of this seem worth protecting?"


Theme 5: Demonstrated Taste Is Emerging as a Durable Moat in a Commoditized AI-Build World

As AI makes features cheap to replicate, a founder's accumulated public record of sharp judgment becomes one of the few things that can't be copied from a screenshot.

"In a market full of commoditized AI-built products, demonstrated taste is a moat because it cannot be cloned from screenshots."

"An opinion can be copied in seconds. The accumulated record that made an audience trust it still belongs to the founder."


2. Contrarian Perspectives


Contrarian 1: The "Building in Public is Now Dangerous" panic is based on a premise almost no one is stress-testing.

The conventional worry assumes the expensive part of competition was always building the thing. The article argues this was never true — copying was always cheap; what's hard is winning customers.

"The assumption that the expensive part of competition was always building the thing... A bootstrapped SaaS startup doing twenty thousand in monthly revenue was already cloneable before AI arrived. A small offshore team could rebuild the visible product for a few thousand dollars and a couple of weeks of work."

The real change is the volume of people starting clones, not the number who successfully complete them.


Contrarian 2: Faster AI tooling actually makes the original founder safer, not more vulnerable.

Counter to the panic narrative, the article argues that faster shipping cycles shrink the window in which a clone is useful, and only the original has the live feedback loop to exploit faster iteration.

"In a slower software market, that snapshot could remain useful for years. A copy could undercut price, mimic features and bleed attention while your own iteration cycle remained expensive. That slower world was actually far more dangerous for the original."

Evidence: The original has "customer conversations, support tickets and roadmap debates that never became public" — context a clone can never inherit from a public post.


Contrarian 3: The one scenario where the fear IS correct — and it's distribution-driven, not code-driven.

The article carves out a precise condition under which build-in-public risk is real: when the copying party already has superior distribution. In that case, a good-enough clone with better go-to-market beats a better original.

"If another company can reach your buyers faster, sell harder and win with a good-enough product, building in public becomes a bad trade... A stale copy with superior distribution beats a better original with weak reach."

This inverts the usual frame: the danger isn't technical replication — it's being out-distributed by someone who needed only your public roadmap to confirm the market is worth entering.


3. Companies Identified

Lovable

  • Description: AI-powered, no-code app builder enabling non-technical founders to ship software rapidly
  • Why mentioned: Cited as evidence that the cost of building has dropped for everyone, including founders without technical backgrounds; also a sponsored tool the author personally uses
  • Quote: "Lovable just published the data on who is actually building right now... If you have an idea and want to ship it fast, this is where I would start."

4. People Identified

Arvid Kahl

  • Description: Founder, author, and prominent advocate of the build-in-public philosophy; creator of The Bootstrapped Founder podcast
  • Why mentioned: His argument that the "safe threshold" for public sharing has "collapsed to zero" in the AI era is the primary position the article engages with, partially agrees with, and ultimately reframes
  • Quote: "Kahl's filter, 'interesting, not easy to clone,' is good advice. Founders should reveal judgment without giving away the operating manual. But he treats the interesting layer as safe material left over after the valuable secrets are locked away. A better reading puts the interesting layer at the center because it was the main event all along."

Tyler Denk

  • Description: Founder/operator (referenced via an X post)
  • Why mentioned: His post on "Founder Mode" and MRR screenshots is used as a visual illustration of the changing meaning of public revenue transparency
  • Quote: Used as an image source captioned: "Is 'Founder Mode' all about posting MRR screenshots?"

Ruben Dominguez

  • Description: Author of The VC Corner newsletter
  • Why mentioned: Author of this article
  • Quote: N/A (author, not a subject)

5. Operating Insights

Insight 1: Separate what you share into "judgment" vs. "blueprint" — and only publish the former.

The article provides a concrete, actionable split for operators deciding what to make public:

"Share the reasoning behind the bet, the tradeoffs, taste, mistakes, customer insight, tripwires and hard-won industry read. Those build trust while giving competitors little they can use. Hold back the exact numbers, architecture, vendor dependencies, channel mechanics and repeatable machinery. They leak far more than they earn."

Insight 2: If your business can be threatened by someone reading your MRR post, the moat was weaker than you thought — and no amount of secrecy fixes that.

The article reframes operational secrecy as a diagnostic, not a strategy:

"If someone can threaten the product by reading an MRR post, copying the stack and recreating the visible workflow, the business had less of a startup moat than the founder hoped."

The operating implication: the priority is building real defensibility (distribution, customer relationships, proprietary feedback loops) — not restricting information.


6. Overlooked Insights

Insight 1: The audience consuming build-in-public content is systematically miscategorized in the founder's imagination.

Founders write as if their most dangerous competitor is reading every post. The article quietly argues that the actual readership is overwhelmingly aspirational, not competitive — and that this changes the risk calculus entirely.

"The content reaches a large audience, but only a small fraction combines the ability, access and patience required to become a meaningful competitor... The founder posting their stack and MRR imagines a sharp operator studying it like a battle plan. More often, the reader is someone looking for validation, three months from quitting, or still deciding whether they are a founder at all."

This is distinct from the moat/blueprint argument — it's a point about who your real audience is, which has implications for content strategy independent of competitive risk.

Insight 2: The "judgment layer" of build-in-public content is not just safe to share — it can become distribution.

The article briefly notes that public reasoning, done well, doesn't just build an audience; it can become a go-to-market asset over time. This point receives only a passing mention but has significant implications for early-stage founders thinking about brand as a channel.

"The founder's reasoning, taste and industry read create the relationship that can later become distribution."