Wix.com + call option for base44 for free?
Core biz at a reasonable price + free call option on Vibe (could be worth $4B soon)
I don’t have time to put together a full post right now, so I’m sharing a few quick screenshots of my tweets instead.
We started buying Wix.com below $130 and kept adding as we conducted deeper research. It’s now our largest position.
I’m not saying I agree with the valuation, but I respect the valuation that Base44 could reach in the coming months. If vibe coding were a bubble, we’re definitely at the beginning of it — certainly not in the middle, and definitely not at the end.
First tweet:
Next one:
The last one, from yesterday:
Interesting thesis on the optionality here. The Base44 angle is intriguing, especially given how vibe coding is gaining traction among developers. Your point about being at the begining of the bubble rather than the middle is well-taken - the enterprise adoption curve for AI-assisted development tools still has a long runway. Have you modeled out what multiple Base44 could command if they hit their growth targets?