Lens family
178 analyses · Moat & Competition
Nike Didn't Sign Michael Jordan. It Manufactured a Myth and Trademarked It.
Nike
Ralph Lauren Sells a World Nobody Owns. That's the Moat - and the Crack in It.
Ralph Lauren
Ralph Lauren Didn't Free Itself From Discounts. It Cleaned Up a Mess It Made.
Ralph Lauren
Zoom Had a Brilliant Product and a Borrowed Moat. Then the Bill Came Due.
Zoom
Airbnb's Moat Isn't the Listings. It's That You'll Sleep in a Stranger's Bed.
Airbnb
Airbnb Turned Off Half a Billion Dollars of Marketing. Almost Nobody Stopped Coming.
Airbnb
Honda's Famous Independence Is a Slogan From 2001 — and Its Last Deal Proves It.
Honda
Toyota's Real Moat Isn't the Production System. It's Whether Anyone Still Runs It.
Toyota
Tesla Gave Away Its Connector Right Before Washington Could Make It Worthless
Tesla
Tesla's Lead Was Never a Moat. It Was a Head Start - and Head Starts Get Caught.
Tesla
BMW's Most Famous Moat Was Written by an Ad Agency for One Continent
BMW
Ferrari Makes 13,752 Cars a Year. Wall Street Prices It Like a Handbag House.
Ferrari
JPMorgan's Moat Isn't Being Big. It's Being Big Enough to Make Size Free.
JPMorgan Chase
L'Oreal's Moat Isn't Its 37 Brands. It's the 3% You Never See.
L'Oreal
Diageo's Moat Is 180 Countries Deep. The Cracks Run Right Through the Flagship.
Diageo
Hershey Doesn't Own Cadbury in America. That Borrowed Brand Is Its Best Defense.
Hershey
PepsiCo's Real Moat Isn't the Chip. It's the Truck That Beats You to the Shelf.
PepsiCo
Red Bull Invented Nothing. It Just Owns the Word.
Red Bull
Intuitive Doesn't Sell Robots. It Sells the Razor and Owns Every Blade.
Intuitive Surgical
Intuitive's Patents Expired. Its Installed Base Kept Growing Anyway.
Intuitive Surgical
Medtronic's Best Moat Is a Surgeon's Hands. Some of It the DOJ Has Already Drained.
Medtronic
Hilton's Most Profitable Asset Isn't a Hotel. It's the Points You Forgot to Spend.
Hilton
Marriott Doesn't Run a Loyalty Program. It Runs a Bank It Can Borrow Against.
Marriott
GEICO's Best Year Ever Was Also a Warning. The Moat Is Real. The Record Was Borrowed.
Geico
Progressive Sells Through Agents and Around Them at Once. It Took a Decade to Make That Stop Hurting.
Progressive
FedEx Built the Widest Moat in Logistics. It's Wide in the Wrong Place.
FedEx
LVMH's Moat Isn't 170 Years Old. It's 40, and It Was Bought at a Discount.
LVMH
Spotify Finally Turned a Profit. It Didn't Win a Single Inch Back From the Labels.
Spotify
Westlaw's Real Moat Isn't the Case Law. It's the Way the Law Is Filed.
Thomson Reuters
Netflix's Moat Wasn't Being First. It Was Surviving Long Enough to Get Big.
Netflix