Executive Summary
Market Consensus: AI coding tools are margin-destroying commodity businesses with no moats, competing on model access. The Real Story: We're witnessing the Great SaaS Unbundling. Shlomo's thesis that 'it will be easier to build your own Salesforce than buy a license' isn't hyperbole—it's the logical endpoint of software becoming liquid. The $80M Base44 acquisition isn't about Wix buying a coding tool; it's about owning the infrastructure layer for post-SaaS software. While everyone debates Curso...
Key Investment Opportunity
The Great SaaS Infrastructure Arbitrage
While the market obsesses over AI coding applications trading at 10x+ revenue multiples, Wix trades at reasonable valuations despite owning the most complete vibe coding infrastructure through Base44. The company generates $567M in free cash flow, has proven AI integration capabilities, and is posit...
...and 1 more investment opportunities
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