"Build in public" made millionaires. Now it's making founders targets. Here's why indie hackers are going ghost mode.
Indie hackers used to share everything, but now many go private to protect their business.
Copycats pop up at $10K+ MRR, but most fail. Still, they cause stress and take a share of your revenue.
Share early, hide later. Be open as you grow, then go private at $10K+ MRR, sharing only key milestones at $30K+.
Over the past two years, a quiet shift has rippled through the indie hacking community: founders who once championed radical transparency are now going dark. They’re deleting MRR updates, scrubbing product URLs from bios, and retreating into stealth mode — all to protect their business from copycats.
Here's why this trend is picking up speed, when it makes sense to jump on board, and how to stay open without leaving yourself exposed.
The “build in public” movement wasn’t just a trend — it was a revolution.
As Damon Chen pointed out on his blog — Buffer and Ghost started the whole thing, inspiring thousands. By sharing their journey, they turned customers into die-hard fans, and it worked for years. Then came the golden era of building in public, with more and more creators jumping in and starting their own indie hacking adventures.
For years, indie hackers shared their product updates, revenue stats, and growth charts, creating a transparent environment that inspired others. Besides building a tight-knit community, let’s be real — every revenue post grabbed a ton of attention and money that comes with it.
Sabba Keynejad, used it to scale VEED.IO to $500K MRR. The build in public movement has clear upsides. As he puts it:
Benefit 1: Community
When your first start, things can get lonely. The Indie Hackers community has been an incredible support network and inspiration for us. We have made great friends who have also supported and inspired us through our ups and downs ❤️Benefit 2: Investors
Due to sharing revenue, we have had over 100 investors reach out to us, including most top-tier funds. Regardless if you are looking for capital or not, having an open dialogue with investors is no bad thing.Benefit 3: Hiring Talent
We have hired and also acquired other indie hacker companies (more on this coming soon). Being public is a great opportunity to tell your story.
Many new hires mention how much they loved reading about our journey on the blog.Benefit 4: Personal Brand
I have been invited onto many podcasts and had the opportunity to talk at conferences too. I have grown my Twitter following to 5K. The majority of my most popular Tweets have been about revenue milestones and growth
But there’s a dark side to transparency. As the indie hacking space has exploded, so has the number of copycats. Once you start gaining traction and being open about it, you’re basically waving a flag saying you’ve hit product-market fit. For a lot of people, this is the perfect chance to snag a proven idea without spending a dime or lifting a finger.
The best examples — Marc Lou, John Rush and the latest MVP Agency craze. Marc killed it with his boilerplate, and John — yeah, he’s pretty much the “Directory Messiah” now. And MVP Agencies? People started raking in $10K-$20K in just the first few months.
Did people copy them? Oh boy, you bet! So many clones popped up that we ended up with directories of boilerplates, directories of MVP agencies, and even directories of directories.
i think i actually never shared why i stopped sharing revenue numbers so here it is
at a certain point:
- sharing revenue becomes bragging
- competitive disadvantage
- personal safety due to bad actors
- negatively influences relationships
- doesn’t tell the full story
at a given moment the downsides become bigger than the upsides
We've had a bunch of successful indie hackers disappear into revenue ghost mode because of this. Just look at Damon Chen, Sabba Keynejad, Danny Postma, Levelsio, and the latest one — Jon Yongfook.
The problem with copycats is especially relevant for businesses with low barriers to entry. Seems obvious, but the easier it is to enter a market, the faster copycats swarm. The easier it is to replicate a business model, the easier target you become.
This is what Francesco Di Lorenzo, Typefully co-founder, said about his stance on getting back to sharing MRR updates:
Here's why we stopped and why we're resuming it:
1) Copycats pop up like crazy when your MRR is growing.
Why we stopped: you have to defend your business the best you can while you're still growing and consolidating it. Continuing to publicly share our MRR didn't help that.
Why we're resuming: copycats are no longer an issue because we have a very solid product and business + there's a 42k/mo entry price now. 😅
When you're just starting out, sharing everything can and will be a huge boost. It’s motivating, and the support is real. But once you hit a steady revenue the game changes. You've proven your business concept and now you're on the copycats' radar. It might not be the question "if", but rather "when."
So when should you stop sharing? Alexander Belogubov suggests a clear threshold:
Why $10K?
Copycat tipping point: Below $10K, your project is “too small” for clones. Above it, you’re a target.
Mental health: As Jon Yongfook pointed out, publicly sharing revenue dip amplifies stress, “when your numbers are live for the world to see, the level of stress and dread is amplified 10x.”
Safety: Tony Dinh once mentioned he might stop sharing his revenue because it could be risky for his business and personal safety. Levelsio removed the open revenue section from his site because of security concerns.
You might think the era of building in public is over, but we're far from it. You either succeed or learn. Copycats skip the learning part — and they rarely ever succeed. There are almost no cases of copycats outshining the original creator of a project.
They haven’t mastered the subtle art of building a successful product — constant tweaks, branding, and marketing. Which ultimately forms your unique moat. They bypass all of that and jump straight to launching a copy-pasted, half-baked website or app. That’s when the real learning curve hits them.
Sure, it’s frustrating to see them take a share of the revenue that could have been yours. But you’re here for the long game. Most of them don’t have the patience to build something truly sustainable.
This isn’t about abandoning transparency — it’s about evolving it. That said, being open about your revenue can do wonders for the Indie Hackers community.
Marc still drops his monthly numbers, and it’s no surprise he’s one of the most well-known names in the game.
When Jon Yongfook asked if he should keep sharing his earnings, 60% of indie hackers were all for it.
So though the cons of building in public are pretty obvious, it still makes sense to do it, either for your own transparency or for the new generations of aspiring indie hackers.
But if you want to do it, here's the right way to go about it:
Phase 1: Build in Public (0–$10K MRR)
Share progress to attract early users, transparency, and accountability.
Phase 2: Go ghost mode ($10K+ MRR)
Delete revenue stats, but keep sharing non-metric wins (e.g., customer stories, product lessons).
Protect your moat: unknown features, key insights, best marketing strategies, etc.
Phase 3: Selective transparency ($30K+ MRR)
Share milestones sparingly (e.g., annual recaps).
Building in public isn’t dead — it’s just getting a reality check.
Sharing your journey is great for getting noticed, building a community, and even landing investors. But once you hit real money, be ready for the copycats to show up.
Be open when you’re small, go quiet when you’re scaling, and share just enough to stay relevant without giving away the secret sauce.
Have a story, tip, or trend worth covering? Tell us at [email protected].
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Thank you for sharing - We had this happen to us immediately after posting to Indie Hackers. This also highlights why we built Idea Clerk as people need to protect their innovation with IP, especially when disclosing their ideas in public forums. Thankfully we do have an IP moat and will pursue avenues to protect our innovations.
Is Build in public all about posting how much an app is making? Or is it more about development progress and where the project is going? I've been working on an app and it's nearly ready to ship; however, I'm struggling to figure out how to let people know about it. Having never been a social media person who posts often, I'm not able to crack the formula. Any help is appreciated.
I think there is huge, and I mean HUGE confirmation / subjective bias around this topic.
First of all, some context. I was on Indiehackers multiple times a day, religiously, for years back in the earlier days of the forum. I posted here before my product launched, through to its first sale, and then onto bigger things until I became actually too busy running a real business to spend time on forums.
One of the statements in this article reads: "Build in public" made millionaires.
This is absolute garbage. Some people who start businesses become millionaires and some of those people "built in public".
Generally speaking, they did not become millionaires BECAUSE they built in public - perhaps a very (very!) small handful did, but as I used to say on this forum all the time, someone wins the lottery every week. it doesn't mean you become a millionaire by playing the lottery.
"Build in public" was always a complete fad driven by survivor bias and a severe lack of critical thinking. The reason its disappeared is probably because people have now realized this.
„I posted here before my product launched, through to its first sale, and then onto bigger things until I became actually too busy running a real business to spend time on forums.“
What I read is „indie hacking is not a real business“ 😁
👀
Interesting perspective, but I wonder if we're overestimating copycat risk for truly innovative products. Most 'copycats' I see are surface-level clones that miss the core insight. The real moat isn't secrecy - it's execution speed and customer relationships. Maybe the fear of copycats kills more products than actual copycats do?
I think Build in public isn’t dead , it’s just evolving. Transparency still inspires, but protecting your edge matters once copycats appear.
True story!
execution beats imitation every time.
if copycats can take your market just because they saw your numbers, then you never had a real business.
This really hit home. I’ve always liked the idea of building in public—transparency, accountability, community—but lately it’s felt more like shouting into the void while everyone else disappears behind slick landing pages and pre-launch hype.
For a solo builder without a huge following, “build in public” sometimes ends up meaning “perform in public,” and the ROI just isn’t there unless you’re already plugged into the right circles. I still value sharing the journey, but I’m becoming more selective about where and why I do it. Indie Hackers feels like one of the few places where that kind of honesty still lands.
Appreciate the nuance in this post. It's not about giving up—just evolving the way we show up.
Finding a balance between putting out enough excitement and info to market effectively and maintaining privacy is rough. It's literally like dating, don't show all your cards or else you risk becoming uninteresting. BUT YOU WANT THEM TO LIKE YOU!!! Lol
The way people make money, it's just cosmos how passionate they are.
Execution is a big part of success
Totally agree, but not building in public is also not a good idea. You get a lot of useful attention online by it, a lot of potential customers.
Totally agree with you! Thanks for mentioning my tweet :)
My pleasure!
Thanks for sharing valuable insights as I can co-relate all this with me too :D
Mhm I’ve learned a lot from this. The people who have built in public have inspired me a lot. Nonetheless personal safety is also very important especially in climes where you can be a target when people think you’re cashing out big.
Great compilation of insights, thanks for sharing.
This is anonymous!
Build in public until the copycats start lurking. Then, go stealth mode and let your product do the talking.
Build in public? More like build, then ghost. Once the cash starts flowing, the copycats start showing. Smart move, keeping the sauce secret. #StealthModeActivated
“Not quite the end—‘Build in Public’ is facing a reality check. Many indie hackers fade as they scale, avoiding copycats and reducing oversharing. For some, it’s vanity; for others, it’s misplaced effort where the audience isn’t even present. Now, strategic silence often trumps performative exposure.”
this is great
This “share early, hide later” thing def makes sense.
I’m not even at 1 active user a day yet and I still catch myself thinking, “should I even be posting this?” Not cuz my idea’s some genius-level stuff, but cuz if someone clones it faster, I’m cooked lol.
At the same time, if I don’t share, no one even knows I exist. So yeah, I guess when you’ve got nothing to lose, being loud is free marketing. But once there’s something actually working… ghost mode sounds kinda nice.
Share when no one cares. Go quiet when they start watching.
We wanted transparency.
We created pressure.
Expose everything, show everything, explain everything... and above all, never stop.
Today, the real build in public?
Work in a submarine, shipper a banger, and let people do the talking for you.
Silence? Maybe that's the new trend.
Well, at least they found a way to make a few dollars before they went private. I am still stuck on the 0 sell phase lol. If anyone gets any recommendation, i am in !
interesting, thanks for sharing
"Share early, hide later."
I'm actually even now inclined to not completely disclose our numbers, but these 4 capture the mood I sense in the community well.
Love this take. I’m actually working on a mindful AI learning buddy for kids called BudhieMind, so this resonates a lot.but I don't really know how can I start :((( im too new for this one
I just dived in to AI coding and app creation. It's a little depressing to hear how cutthroat it has become. I came here looking to hire a dev and I've found everyone looking at me from around corners and behind curtains. It's a crazy time to dip your toes in this game.
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So the idea can be expressed but not developed publicly, so its just to create a team
Fantastic article!
Do you have any recommendations for sharing publicly, like a playbook on what topics to cover and in what order? Also, how often would you suggest posting?
Do you think that the reason why there are so many copycats out there is because SaaS products in general have low barriers to entry since coding a full-stack app has become a commodity that many people are adept in? It's easy to code but challenging to build a business.
Maybe your next article can cover how SaaS businesses secure their competitive advantage with their business strategies.
Honestly been feeling this shift too. I used to see way more indie builders posting progress updates, launch flops, even small wins - now it’s way quieter.
I experience this all the time - I'm a creative and innovative person so naturally ideas come to me and I tend to share.
It could be free validation for copycats, but some people need the eyeballs for marketing
Building in public helped a lot of us grow — not just the product, but the community around it. But when the numbers get serious, the risks do too. Going quiet maybe not hiding but protecting what you’ve worked hard for. Feels less like the end of something, and more like a shift into a smarter way of doing things.
It's interesting to see that Build in Public isn't dead, it's just evolving. In order to focus deeply or avoid burnout, many creators are going quiet. Balance is key when it comes to transparency. Selectively sharing progress can be just as effective. What works best for your goals and audience is what matters most.
As someone still in the very early days of indie hacking, sharing is a huge motivator. People are generally very friendly and happy to provide feedback.
I wonder if people who stopped sharing are missing that sense of community?
Building in public will only become relevant if people stop using this community as a place to poach ideas( the copycats).
It takes a lot of confidence in your ability to outperform the competition while they can see all the cards you are holding.
I am not saying it is completely absurd, after all this is a platform to potentially find like minded individuals, but make sure you are prepared for someone to potentially copy what you are building. This is where strong online presence comes in. If you already have a loyal following that can vouch for you , they will blow any copycat out of the water by calling them out.
Ngl, makes one think for the future :)
Interesting to see how many founders go quiet after hitting traction. As someone just starting out, it makes me think more about when and how much to share.
This is currently a huge topic for me, I just started building and I want to do it in public but I am very nervous about the process.
I believe we should find ways to make our build in public more user-oriented rather than peer-oriented. Most build in public efforts targeting peers generate revenue primarily from selling courses rather than building actual products. Only by focusing on users—showing them the product development process and thought process—can we better monetize the product, turn users into loyal fans, and earn an emotional premium.
I think this is one of those "it depends" kind of cases. Some products are simple ideas with couple of weeks or a month of coding, something easy to copy. However, other ones are unique enough, taking a ton of domain knowledge and several months or even years to build, in which case the copy cats would entirely skip your project and move onto the easier ones out there.
Like you said. The copy cats are not in it for the long haul. They're looking to make a quick buck. Focus on bringing value to your customers and the sky's the limit. I love the idea of going private after 10k.
At what point is building in public a distraction from actually building? I've always wondered about this. I want to be engaged and have a community, but building is an immersive experience. How do you think about the balance of time? Is that changing too?
Great, thanks for sharing
Do you think this trend will continue, or is it just a phase?
An old IH podcast (maybe with John O'Nolan?) suggested the "build in open" question should depend on your startup.
An extreme example: if you're building tech for military, your customers might not like your transparency. In contrast, a company promoting start-up advice would build a lot of credibility if they show growth numbers.
Maybe a lot people found themselves starting open only to find it wasn't high ROI for their context.
I find it helpful to share the things you learned along the way, rather than the things you built for a while, at least before each launch. After launching, then it's time to talk about the features you've built since you've already built and shown to people will not be stolen because you've talked about it, but rather because you have already shown it to your users 😄
I think your strategy gives good guidelines to people who are worried about how they can build in public. We both agree that building in public provides so many more advantages, especially when launching a product with bigger potential traction than not having it. The copycat economy is a threat, but I don't think it's that big because they still have to put in effort AND brand themselves differently than yours.
I think a better approach is experimenting with what works for them as founders. If they want to build in public, then what are they comfortable with? They can spend 10 minutes a day interacting with people here in IH or other places versus going on youtube and starting to talk about their experiences.
So currently I'm working on a SaaS product and thought to try "building in public" - what do you think could be the best approach for building in public for the first time? Should I just stream myself coding or publishing (because I'm almost done building it) in Twich and move forward from there?
I'm not the OP, but it depends on your personality, user base, and expectations. On the last point, there's so much noise on the internet, so chances are just because you publish once or twice doesn't mean that there will be immediate traction. So I think it's best to know that you'll have to keep doing it.
A founder transition from a boy to a man when he stop posting MRR screenshots in public 🤣
yes.
In the last few years,'Building in Public' has mutated into 'Bragging in Public'.
Also, the taxman is now using algorithms to track revenue numbers published online.
““”My English is bad and the text is fully translated through a translator.“”"”
Congratulations! You're turning into a typical rich guy who's worried about every dollar. Rising above your swamp you suggest to start hiding from your former colleagues in unhappiness and do everything to make it harder for new players to get into this game. That's how it works everywhere. People based on the work of open and creative individuals rise, and then people like you come and cover this entrance for those who are weaker, referring to some copycats. Law of the jungle. And I thought you were different. It always amuses me when people count the income of wannabes and consider it their lost profit. Relax guys, it wasn't your money, and a decrease in your income is not always that customers have gone to competitors. Just recognize that your product isn't great (or is losing relevance) and you need to evolve further.
So building in public isn't cool anymore? Or until you reach $10K ? But for those starting out its a good way to grab eyeballs and get people to learn about what they are doing.
Agree with @primer here - building in public won't make you rich by itself. It works for some people insofar as it will give them accountability, support and ideas, maybe some initial customers. But building a successful business is multifaceted, and building in public won't do it alone. And maybe it all became just a little bit cliched and died out?
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