Looking at: Lovable

0:00What's up, foos? Main event Jey Uso here from the WWE. When it's just me between matches, it's day one-ish. And that means it's Chumba time. With hundreds of casino-style games and new titles arriving weekly, there's always something fresh to try at Chumba Casino. The daily boosts make it even more fun. And have me about to get them all during my downtime. Ready for a fun way to chill out and enjoy a few minutes for yourself? Let's Chumba! No purchase necessary. VGW Group. Voidware prohibited by law. CTs and Cs. 21+. Sponsored by Chumba Casino. You're listening to a podcast right now, driving, working out, walking the dog.

0:34If you're into podcasts, chances are you have something to say too. With RSS.com, starting your own podcast is free and easy. Upload an episode and we distribute it to Apple Podcasts, Spotify, Amazon Music, and more. Track your listeners, see where they're from, and start earning from ads just like this. If you've been thinking about starting a podcast, this is your sign. Start your new podcast for free today at RSS.com. Today on the podcast, we're talking about a vibe coding AI startup called Lovable and how they're planning on earning$1 billion in annual recurring revenue in the next 12 months.

1:10Absolutely insane numbers. But before we do that, Jaden, why don't you tell them about our school community? Yeah. So every single week, Jamie and I break down basically a video on how to grow and scale your business using AI tools. We post this on our school community. We don't post it anywhere else. And basically the concept is that we want to give you an unfair advantage in mastering AI tools. So the goal is to grow your network. We have over 300 members that are working on similar projects, and everyone is in there commenting and sharing. We want to help you scale your side hustle. So if you're working on a side hustle, leveraging AI to grow it, we have a bunch of side hustles that we're currently doing.

1:43And we break down exact tools, workflows and revenue, like how much money we're actually making from things, you know, obviously stuff we don't share publicly, but it's in the community. And basically, we want to help you unlock the power of AI. So if this sounds interesting to you, we'll leave a link in the description to join the school community. This is something that has been helpful to hundreds of members, and we're really excited. We'd love to have you as one of them to help you grow and scale your online side hustle. All right, let's talk about what's going on with Lovable. This is a company that is very, very cool.

2:13Basically, the fact that they said that they are growing by at least$8 million in annual recurring revenue every single month just blew me away. Their CEO was talking, Osika, he was talking to Bloomberg TV just this week. What's interesting to me is just the fact that a lot of people hear that and they're like, oh,$8 million a month, whatever. But this is recurring revenue. This is annual recurring revenue. They can expect to be making that every single year. Now, it's not monthly recurring revenue. So I think that's the only thing that's confusing is he's like,$8 million in annual recurring revenue every month.

2:49So it's basically they're growing by like 8 divided by 12. So maybe like less than a million dollars in monthly recurring revenue, but still really, really impressive. This is a brand new startup. Who am I to say, you know, only a million dollars in monthly recurring revenue a month? Like that's absolutely insane. So they wrote in a blog post that they had just passed$100 million in annual recurring revenue. And this was eight months after they launched. And yeah, this is just really, really cool. I think eight months, I guess, after they made their first million dollars, they hit a hundred million dollars in annual recurring revenue.

3:27So that's crazy. And just a company is growing so, so fast. Yeah. I mean, I think the reason why is this is one of those like employee killer companies where like if they can replace, you know, companies can use lovable and replace a lot of their coders. Obviously, that's not a great thing for the people who are the coders. But if you're talking, profit and that's what companies are out to do is make a profit. How are they going to replace a lot of the coding entry-level people with AI? It makes a lot of financial sense to do. So I could definitely see where a developer would definitely be all on board for spending money each month on something like Lovable.

4:11100%. So for those that haven't seen what it does, this is a company I've played with a bunch. It's really cool. You basically on their homepage, they just have like a chat bar like you'd see on chat GPT, where you can ask it to build you an app or a website by chatting with it. So you say create a prototype, create a website that does XYZ. They also have something called launched where they show different projects that launch every work every week. And so like one, for example, is called burn note, it's the most secure way to communicate, leaving no trace behind. So someone, you know, made burn note, you send a message and it burns the note, Um, and they, they basically have screenshots to like what this whole website is that they built.

4:51This whole company is that they built only using lovable, which is really impressive. I think the number one way I would recommend using lovable realistically, because I know a lot of people are like, it built a whole website. It built a whole app. It built a whole thing. It's amazing. Like we don't need coders anymore. Like I'm going to be, I'm going to, I think that day will come. It's not, it's not there today. If I'm being a hundred percent honest, one famous story that happened in the last couple weeks was a company called tea. It was basically like a gossip app, sort of like women could go on, I think they could quote unquote, spill the tea on guys they were dating or had dated and whatever.

5:25Now the problem was in order to sign up for the app to verify like your identity and probably your gender, you had to upload your picture of your driver's license. And this is kind of like how you would do whatever. But it turns out that tea was a vibe coded app, which was super cool for a while that this vibe coded app was going super viral. Unfortunately, the people that built it did not take proper security precautions because they didn't really understand what was going on with all the vibe code. And all of the driver's licenses were getting uploaded to a public file folder in their database.

5:54So someone realized that they queried it and they basically found pictures of every single driver's license that had signed up for it. Someone found that, they took it, they ran a query on it that could read the driver's licenses. And it made a map of every single person that had the T app and their like exact home address, which is terrifying and horrible and basically your worst nightmare. So like, why do I bring that up? Because vibe coding is super cool, but I do believe you want someone with expertise to look at your code and not just ship something where you don't really understand where all of the driver's license data is being stored and where everything is put because it's a huge security risk.

6:34Basically a lawsuit waiting to happen. I have no idea what's going to happen to the T app, but I don't imagine that thing is going to be around for very long, kind of given that scenario. Yeah. I mean, especially if you're collecting, you know, information, charging money. Yeah. If you're using, if you're doing all that kind of stuff and you're using a vibe coded coding, you know, yeah, that would be definitely something to consider. So thanks for sharing that for sure. Cause you know, in my mind, it's like, yeah, let's go. Let's, let's start making some apps and some companies, but yeah, Yeah, that's interesting.

7:05Okay, Jamie, you have to be the judge on this next segment where I basically put Lovable to the test against the biggest competitor that I've seen ads for. They've just raised a bunch of money. I see them on YouTube all the time, ads. It's called Base44. This is another competitor to Lovable where you basically can do the same thing. I'm gonna show you two different designs. I told it to basically build me a recycled oil company. So it's like a company that sells recycled engine oil. I told it to make it retro and cool. So I'm going to share my screen and you can explain what you're seeing for people listening on Apple.

7:38But if you're on Spotify or YouTube, you can see it. So this is the first of all what Base44 made. This is the homepage of the website. That looks pretty nice. Yeah, I'm seeing some kind of burnt orange colors. It looks, you know, like a pretty standard, you know, I don't know what you would call it. What's like Squarespace website? It has a good visuals. Looks pretty basic to me. but I mean, it looks like a standard website. Okay. Yeah, yeah. I was impressed that it made four different tabs, products, homepage, about, and contact, but you're right, I think it's fairly basic. All right, let's get into, this is what Lovable generated.

8:14Oh, wow. Yeah, a lot more pro looking, visually appealing. It has, looks like its own AI generated images that it used for your background. Looks more professionally designed, like someone didn't just buy it or use a cheap free template and then throw their info on it. It looks designed and it has some animation even when you're hovering. Yeah, that looks a lot better to me, honestly. Yeah, I agree. I think it's got like the frosted glass. It's got a lot more modern design. One thing I will say that's interesting though is they do have this get quote button that doesn't actually do anything. And if you click on the links at the top, It's basically just, it's all one page and it's linked into the page.

8:57So I guess, I don't know if that's a pro or con, and I'm sure you could tell it to do or not to do that in your prompt if you want to make it more descriptive. You can also edit it with this. So overall, I think Lovable, it takes the win as a more modern, better look of a website. Really impressed. So the number one way I recommend using Lovable or any tools like this, basically, I have a brother that recently vibe coded an app and it was like an MDGPT kind of app where you can ask medical questions, got a bunch of data. They were made at HIPAA compliant and did all this different stuff for it.

9:27He works with some doctors to help develop it. And he vibe coded it. He's not a coder at all originally. And I honestly was really impressed by what it looked like and what it was able to do. He wasn't actually able to launch the app. He had a bunch of problems like on some final stages of running it. And so he has a friend that's a developer who helped him kind of do a bunch of stuff, rewrote some of the code, fixed it up, and then was able to get it publishable. But the one thing that I will say, though, is it's like, you know, some people are like, oh, maybe it's a waste of time because he just had someone redo it.

9:55He didn't really have someone redid it. They had to tweak it and make some changes. But the beauty was he gave them a working app with all of the code and all of the design and everything laid out and figured out. They just had to tweak it and do a bunch of changes. And so this is huge because in the past, doing software myself and doing apps myself in the past, you know, have self pause, which was the it was the very first AI life coach app. I'm sure there's more now, but it's kind of the first one I was running that company. And that was so much work. I used to have to go into, I used Adobe XD and I would make all of these designs, right?

10:26To make every button individually by hand and make these little graphics and design, send it over a developer. They had to try to get it just perfect. It was so much work where today, if I would just got lovable to create it, I basically would give them a file of the code and I can tell it what language to develop this in. And they can take that and tweak it any way they want and make it like usable or working or whatever, a product ties it. But basically it's like the easiest way to prototype design and make something amazing very quickly that you can then give to a developer to tweak and do anything you need to.

10:54So that's how I personally recommend using a tool like lovable to actually build a business. That's awesome. So did you just one final question? Did you what was your prompt like for that? Did you have to give them like information or visuals? Or did you just say make me a an app or make me a website for recycled engine oil. Yeah, no, my my prompt was very, very simple. I said a website for selling recycled engine oil, make it retro and cool. Wow, that's like if you get like if you make this a three paragraph app, that's like have different pages that do X, Y and Z have our pricing structure that does this, make sure that our hours are posted like this tie into a Google Calendar first booking in like, I'm sure you could make this way more elaborate and useful.

11:36But basically, from a very simple thing you uh i got retro oil company that's cool do you know can they collect like uh could you take payments and stuff process payments through a level website and stuff like that or is that i think that's probably one of the the stretches like because in order to process payments you probably need to get a payment like a website you got to sign up for an account with a payment processor maybe i'm and i haven't tested this out but maybe you could go make a stripe account get your stripe api key put it in there and be like tied into my stripe account okay i we want to definitely double check the code to make sure nothing sketchy is happening where people can bill you or something.

12:10I don't know. But yeah, or maybe you do like an embed link or a link to your Stripe payment page. You're like, here's my Stripe payment page for this product. Just embed it. So like, I think there's a lot of things you could you could do to basically like to keep it all legit. One thing that's interesting, this company was founded in 2023. They have become a huge, basically a big AI company in Europe. They're one of the biggest. They just hit a$1.8 billion valuation this summer. They raised$200 million in a Series A. So this is a really interesting company. They said that they're hoping to reach$250 million in annual recurring revenue by the end of the year.

12:45And they're hoping to hit a billion dollars in annual recurring revenue within the next 12 months. Really, honestly, cheering for Lovable. Super excited to see what they're able to pull off. A fantastic company, amazing team, amazing growth rate, and a really cool product. I just tested them against their competitors. I think Lovable is number one. We'll see how it goes in the future, but really excited about the product. Hey, if you enjoyed this episode, please be sure to leave us a rating and review wherever you're listening. We really appreciate those. They help our podcast out a lot and help us reach more people.

13:14And if you're interested, again, in growing your business with AI or learning how to make some money on the side, check out the AI Hustle School community. It's an awesome place to be. Thanks for listening and we'll see you next time. Tyler Reddick here from 2311 Racing. Game night's fun until someone spends five minutes lining up one shot. Chalk, breathe, re-chalk, still aiming. While they figure it out, I fire up Chumba Casino. I can spin anywhere, anytime, and there's always a new social casino game every week. Spins happen way faster than that shot. Play now at ChumbaCasino.com. Let's Chumba.

13:48Sponsored by Chumba Casino. No purchase necessary. VGW Group. Voidware prohibited by law. 21 plus. Terms and conditions apply. You're listening to a podcast right now. Driving, working out, walking the dog. If you're into podcasts, chances are you have something to say too. With RSS.com, starting your own is free and easy. Upload an episode and we distribute it to Apple Podcasts, Spotify, Amazon Music, and hundreds more. Track your listeners, see where they're from, and start earning from ads like this. Even with just 10 listeners a month. If you've been thinking about starting a podcast, this is your sign.

14:26Start free at RSS.com.