Lens family
178 analyses · Moat & Competition
The Loop That Ate Retail: How Amazon's Flywheel Turns Low Prices Into an Unstoppable Machine
Amazon
The $380 Million Machine Only One Company on Earth Can Build
ASML
The $30,000 Habit Wall Street Can't Quit: Inside the Bloomberg Terminal's Lock-In
Bloomberg
The Better Format That Lost: What Betamax Teaches About Winning a Standards War
Sony
Trader Joe's Carries a Tenth of the Products. That's the Whole Moat.
Trader Joe's
SAP's 2027 Deadline Isn't a Cliff. It's a Funnel SAP Built on Purpose.
SAP
WeChat's Moat Isn't Switching Costs. It's a Border.
Tencent
TikTok's Algorithm Isn't Magic. That's Exactly Why It Can't Be Sold.
ByteDance / TikTok
Stripe Sold to the One Person Who Couldn't Sign the Check
Stripe
ServiceNow's Moat Is Widening — and Getting More Expensive by the Quarter
ServiceNow
Atlassian Didn't Kill the Sales Team. It Just Made the Sale Wait Its Turn.
Atlassian
Intuit's Best Investment Isn't Software. It's Lobbyists.
Intuit
Home Depot's 'Half Its Revenue Is Pros' Stat Hides the Part That Matters
Home Depot
Adidas Survived Losing Yeezy. It Hasn't Survived What Yeezy Was Hiding.
Adidas
Levi's Didn't Quit Wholesale. It Reweighted the Whole Company One Point a Year.
Levi's
Crocs Didn't Get Lucky in the Pandemic. It Weaponized the Word 'Ugly.'
Crocs
Hershey's Real Moat Isn't Chocolate. It's a Children's School That Can't Be Outbid.
Hershey
Airbus Didn't Catch Boeing in 2019. It Caught Boeing in 1988 and Won Three Times.
Airbus
John Deere Sells You the Tractor. The Repair Is the Subscription.
Deere (John Deere)
Merck Already Survived Its Worst Drug. The Best One Is the Real Danger.
Merck
Richemont Isn't a Watch-and-Jewelry Empire. It's Two Jewelers Carrying a Watch Habit.
Richemont
BlackRock's Real Moat Isn't the $11 Trillion It Manages. It's the Software Everyone Else Runs On.
BlackRock
ServiceNow Sells Workflows, Not Data. The Lock-In Is Realer — and Narrower — Than It Sounds.
ServiceNow
Tesla Didn't Skip the Dealer Out of Vision. No Dealer Would Sell a Car That Never Breaks.
Tesla
Enphase's Moat Isn't the Chip. It's the Electrician Who Won't Switch.
Enphase
Chick-fil-A Runs a Quarter of McDonald's Stores and Earns Double Per Store. That's Not Luck.
Chick-fil-A
Caterpillar's Real Moat Isn't the Machine. It's the 156 Companies That Sell It.
Caterpillar
State Farm Built America's Widest Insurance Moat. In 2026 It Started Filling It In.
State Farm
Richemont Sells Itself as a Watch Empire. The Money Is in the Necklaces.
Richemont (Cartier)
Walmart Spent 25 Years Losing at E-Commerce. Then It Stopped Trying to Beat Amazon at Amazon's Game.
Walmart