"Lovable has no moat" is the most common take in the valley, yet… — $500M+ revenue run rate, 7x year over year — 900M+ visits / month to Lovable created sites — 60M projects created, ~5M/month — 2/3rd of Fortune 500 use it Lovable’s user base is largely non-technical entrepreneurs who want to run businesses on it with native Stripe integration, SEO out of the box and security built in. Contrary to popular opinion, it isn’t trying to be the best general purpose vibe coding product. Users don’t…