Lens family
111 analyses · Moat & CompetitionMoat Anatomy
Ollama Built a $65 Million Round on an Engine It Borrowed
Ollama
LVMH's 2024 Numbers: Profit Down 14%, and a Real Moat Narrower and More Physical Than the Myth
LVMH
Intuitive's Triple Lock: Trained Surgeons, Metered Instruments, 25 Years of Evidence
Intuitive Surgical
Optum Steers Patients Into UnitedHealth's Own Doctors — and in 2025 the DOJ Sued to Break It
UnitedHealth
Eli Lilly's Patent Runs to 2036, but the $50B of Factories Is What Rivals Can't Build in Time
Eli Lilly
Capital One Bought a Closed Loop for $35.3 Billion; Amex's Flywheel Is What It Didn't Get
American Express
Ferrari Ships 37% More Cars Than Five Years Ago and Margins Went Up, Not Down
Ferrari
Toyota Published TPS 35 Years Ago; Its Real Protection Is Three Compounding Layers
Toyota
Coinbase's 80% Custody of Bitcoin ETF Assets Is Now the Complex's Single Point of Failure
Coinbase
Coca-Cola's Wall Is 225 Bottlers, a Century of Assembly, and ~$5 Billion a Year in Upkeep
Coca-Cola
Huawei Announced 7nm Two Weeks Before Apple; the Durable Engine Is $96.2B of Services
Apple
FedEx's Barrier Is a 16-Million-Package-a-Day Network — Which It Is Quietly Shrinking
FedEx
Emirates Took $10 Million From Dubai Once — and Has Paid Back AED 14.6 Billion in Dividends
Emirates
Moderna Paid $2.25 Billion to Settle Patents It Was Already Using
Moderna
JPMorgan's Flywheel: $10 Trillion Moving Daily Funds an $18 Billion Tech Budget
JPMorgan Chase
Ralph Lauren Engineered Its Gross Margin From ~64.6% to ~69.9% in Three Fiscal Years
Ralph Lauren
Lululemon Sells Without a Wholesale Middleman and Keeps a 59.2% Gross Margin
Lululemon
1,400 Buyers Make TJX the First Call When a Brand Needs Its Worst Overstock Gone
TJX
10,900 Walmart Stores Sit Within Delivery Range of Most of America — That Wall Took Decades
Walmart
Pinterest's Asset Is an Image Data Set Feeding an AI Flywheel — and a $6.05 vs $0.11 ARPU Gap
Pinterest
Customers Paid TSMC a Premium Even After Samsung Shipped 3nm First
TSMC
With 28% of Its Listings Cross-Listed, Airbnb's Protection Is Four Advantages Working Together
Airbnb
The DOJ Mapped Visa's Real Wall: Contracts Foreclosing 45% of U.S. Debit
Visa
Shake Shack's Money-Losing Cart Banked the Goodwill Behind a $1.6 Billion IPO Debut
Shake Shack
Visa and Mastercard Collected Over $111 Billion in 2024 — and Merchants Have No Third Road
Visa vs Mastercard
Every Year of Photos on Meta's Four Apps Raises the Price of Leaving
Meta
eBay Is Shedding Scale for Margin — ~70% of GMV Now Sits in a Few Passion Categories
eBay
Palantir's Clients Can Cancel for Convenience — Seven Years of NHS Data Speak Only Palantir
Palantir
Intel Mocked AMD's 'Glued-Together' Chips, Then Needed Until 2023 to Copy Them
AMD
At High-20s Percent of Net Sales, Kirkland Is Costco's Lever on Every National Brand
Costco
Page 1 of 4