Hey,
Today, I touch on a buzzword (or is it a buzz phrase?) that's been floating around the tech ecosystem: vibe coding. How feasible is it to build a product past MVP? Can you get your vibe-coded solution funded?
Also;
đ¸ - Social Snapshot- How to start a startup
đ - VC Fund Performance 2025
đď¸ - Ben Chiang on post-exit life
đ - Free resources for founders
Welcome to issue 126.
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HR. Compliance. Finance. Equity.
Founders waste three months a year on stuff that doesnât grow the business. Chore gives you a fractional chief of staff, a Chore CEO, who handles it all so you can scale faster, smarter, and without another hire
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đĄHow to start a startup by The Deal Trader on X.
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In the latest episode, I sit down with Ben Chiang, the former head of Uber China and founder of Forma (acquired by Snap), to unpack his journey through hypergrowth, high-stakes fundraising, and strategic exits. Ben shares the realities behind building in chaotic markets, the truth about investor dynamics post-exit, and how founders can stay sane while chasing scale.
Watch Now
Listen on:
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According to this report by Carta, fund performance isnât a straight âbigger is betterâ story. Small funds ($1Mâ$10M) often outperform their bigger counterparts at the very top, the 95th and 90th percentiles, although that pattern isnât universal across all vintage years. It highlights just how much choosing the right manager matters; swapping in or out a fund or two can drastically move those upper percentiles.
Three-times return (3x) is tough to come by, even for the 90th percentile of 2019 funds, and turning TVPI into actual cash (DPI) is a whole different hurdle. The allure of huge winners (4x, 5x, 6x) is real, but it's a tiny slice of the universe. And when you get into fund sizes above $100M, there just arenât enough of them to draw strong conclusions.
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Thunder's mission is to guide founders toward the right path to reach their North Star, be it through securing equity or debt financing or navigating the path to a successful exit.
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A few years ago, if you had an idea for a product but didnât know how to code, you had three options:
Learn to code (slow),
Hire someone to build it (expensive),
Settle for a no-code workaround and hope it didnât break.
Now you can describe what you want, and if youâre clear enough, a mix of AI tools and low-code scaffolding will get you 80% of the way. Itâs fast, itâs messy, and it works surprisingly well.
Some call it âvibe coding.â Itâs not a framework, itâs not a stack; itâs a way of building thatâs driven by intuition, trial-and-error, and blunt prompts like:
âBuild me a tool that takes my deck and shows me which investors are a match.â
âGive me a UI with a headline, three benefits, and a signup form.â
âFix this code. I donât know why itâs broken.â
You write, copy-paste, run, and keep moving. Itâs duct tape development with ChatGPT as your co-pilot. And itâs how a lot of first-time founders are getting their MVPs live.
I'm not a technical founder, so I have dabbled (although I do have a great technical team to do most of the heavy lifting). But lotsa non-technical founders overcomplicate the early stages. They think they need a full-stack dev, a beautiful design, and a scoped-out feature roadmap. They donât.
The founders who are moving fastest today are building in real-time. They're not architects, they're tinkerers. Theyâre using tools like Replit, Cursor, Framer, and Claude to piece together working products, even if they donât fully understand whatâs under the hood.
Iâve seen a founder ship a fully working âfounder update generatorâ tool in under 48 hours without writing a single line of code manually. The idea was simple: founders plug in raw bullet points, and it auto-generates a polished investor update, pre-formatted for email or Notion.
He used Cursor for backend logic (formatting, token limits, saving drafts), Claude to structure the update and rewrite content in different tones (conversational, formal, metric-heavy), Framer to build a clean front-end with a CTA to export to PDF/Markdown, and GPT to help write prompts and validate the UX.
The product wasnât perfect, but it worked. And it was enough to show an investor. Which brings us to the real question:
Short answer: Yes. If youâre honest about what it is.
Investors donât care whether you built the first version in VS Code or Replit. They care if it solves a problem, if users are reacting to it, and if youâre the kind of founder who can get sh*t done without waiting for permission.
A prototype, no matter how scrappy, shows initiative. Itâs a way of proving two things:
Youâre resourceful enough to build without needing a full team.
You can think in systems, even if you donât write the code yourself.
Don't try to oversell it. If youâve vibe-coded your way into an MVP, own it. Donât pretend itâs ready for scale. Tell the story the way it happened. âI needed to test demand, so I strung this together using AI and no-code. Itâs fragile, but it works, and five users already said theyâd pay for it.â That level of honesty builds more trust than pretending youâve built a robust product.
Letâs say you're a non-technical founder trying to raise. You've built something lightweight, maybe a Chrome extension, a GPT wrapper, a basic SaaS dashboard.
What investors will look for isnât your tech stack. Itâs your speed, your clarity, and your grip on the problem.
If you vibe-code something useful, demo it live. Walk investors through how you built it. Talk about what broke and what you had to fix. That tells them more about how youâll operate post-raise than any polished product ever could.
And if your product is held together with tape and prompts? Thatâs fine. Just explain what would need to change to make it production-ready. The best use of vibe coding isnât to build a final product. Itâs to learn fast. You build the wrong thing 10x faster, which gets you to the right thing with way less burn.
This isn't a definitive stack. Itâs just what we see most often working in the wild:
Cursor: Write and debug code using natural language with Claude or GPT built-in.
Replit: Build full-stack apps in-browser. Great for MVPs that require backend logic.
Framer: Stupidly fast frontend builder for landing pages and simple UIs. Lovable AI is also great for non-technical founders who want to launch landing pages fast without looking like they were built in 2010.
Claude 3.5 / GPT-4o: Use them in a loop: prompt, copy, paste, run, refine.
Phind: Like StackOverflow with superpowers. Great for solving specific bugs.
You donât need to master all of these. Pick one backend tool and one frontend tool. Thatâs enough.
Hereâs what building by vibe actually looks like:
You describe what you want. Usually poorly.
You paste it into Claude or GPT. It gives you some code.
You try to run it. It breaks.
You paste the error into Cursor. It tells you what might be wrong.
You fix it. Maybe.
You keep going until something works.
Itâs not elegant, but it works. And most of the time, itâs faster than hiring someone else to build your vision. Although I wouldn't rule that out altogether just yet.
Vibe coding can get you to a working demo. It can even get you to first revenue. But itâs not a replacement for engineering.
Youâll hit walls if:
You need scalability or performance.
Your app has a complex backend or strict security requirements.
You need a durable codebase for future iterations.
This is fine. The goal isnât to avoid engineers forever. Itâs to build enough momentum that hiring one actually makes sense.
What vibe coding gives you is the ability to test ideas without depending on other people. Thatâs the most valuable skill in early-stage building: being able to reduce the time between idea and feedback.
You donât need a tutorial or a guide. You need a problem you care enough about to fumble through some prompts. Find a use case. Write it out in plain English. Paste it into a tool like Cursor or Replit and ask it to help you build it. It wonât be perfect. But if you can build something that shows what the product is supposed to do, even just once, youâre further ahead than most. And youâll know whether the idea has legs a lot faster than if you waited 3 months for a dev to scope it.
Vibe coding isnât a shortcut to building great products. But it is a shortcut to learning faster. And in the early stages, speed of learning is everything. It's how you avoid wasting 6 months chasing a dead end. It's how you find what users want. Itâs how you raise, because youâve already done more with less. If you can describe what you want, and youâre willing to wrestle with the tools, you can build something real. And if you can build something real, you can fundraise.
All the best.
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đ¸ - Access working capital fast - Explore options for free
đ - Free list of AI Recommended VCs - Apply for free
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đ - Playbook for Negotiating Term Sheets - Download it Here
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âď¸ - Playbook for Sending Investing Updates - Download it Here
đ - Guide to Nailing Your First Calls With Investors - Download it Here
đ - Your 12-month Fundraising Plan- Download it Here
đŤ - Pitch deck design services for founders by VCs - Decko
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