I believe that if you’re building for other indie devs, then it does work better. Sometimes, people building in public are able to share their stories about how they overcame a certain problem, so it does have value in creating that human connection.
However, outside of the indie dev domain, I don’t see it being as beneficial.
It does seem to be less common these days. Build in public is cool because it's both accountability and a bit of marketing (with high authenticity when done right). However there was a point where it seemed like social media was saturated with people building in public, which makes it less interesting in terms of getting the word out.
That said, I vastly prefer build-in-public to the "my startup is in stealth" days of yore :) In general I think founders should be more open and more quick to launch than their intuition suggests (c.f. Chris Dixon's Idea Maze blog post: https://cdixon.org/2013/08/04/th... )
From the post:
"The metaphor of a maze also helps you think about competition. Competition from other startups is usually just a distraction. In all likelihood, they won’t take the same path, and the presence of others in your maze means you might be onto something. Your real competition – and what you should worry about – is the years you could waste going down the wrong path."
What's your take @formulashq ?
I will confess that when I am evaluating startup ideas, I will find people who are building in public to spy on. As such, I encourage everyone to continue to build in public :)