Lens family
178 analyses · Moat & Competition
Home Depot and Lowe's Sell the Same Drill. Only One of Them Still Sells It at Retail.
Home Depot vs Lowe's
AMD Is Catching Nvidia on Silicon. It's the Software It Can't Catch.
Nvidia vs AMD
Sony Won the Console War. Microsoft Decided to Stop Playing It.
PlayStation vs Xbox
Visa vs Mastercard Isn't a Rivalry. It's a Tollbooth With Two Lanes.
Visa vs Mastercard
The DTC Brands Weren't Direct-to-Consumer. They Were Renting a Facebook Targeting Engine.
The DTC Bust
Right-to-Repair Is Winning the Argument and Losing the Footnotes
The Right-to-Repair Movement
Apple's Chip Lead Lasted Two Weeks. Its Real Moat Compounds Forever.
Apple
Microsoft Didn't Win the Standards War on Merit. It Won on a Clause IBM Forgot to Ask For.
Microsoft
Tesla Didn't Defeat the Dealer Laws. It Was Born Outside Them.
Tesla
Nike Doesn't Own a Single Factory. So What Actually Protects It?
Nike
Steal the Coca-Cola Formula Tomorrow. You Still Couldn't Build Coca-Cola.
Coca-Cola
Cisco's Moat Is Real. It Just Doesn't Defend the Land Worth Fighting Over.
Cisco
PayPal Didn't Partner With eBay. It Infested It Until eBay Had to Buy the Cure.
PayPal
Shopify Doesn't Trap You With a Contract. It Taxes You for Leaving.
Shopify
Snowflake's Moat Is Real. It's Also Quietly Draining, One Quarter at a Time.
Snowflake
Palantir's Real Moat Isn't the Software. It's the Court Order.
Palantir
Coinbase's Moat Isn't Network Effects. It's a License Stack and a Vault Nobody Else Got Built.
Coinbase
Chick-fil-A's Real Moat Isn't the Chicken. It's the Title Deed.
Chick-fil-A
Toyota's Moat Isn't the Factory. It's Three Walls — and Each One Has a Crack.
Toyota
Ferrari's Moat Isn't Scarcity. It's Four Engines Spinning Each Other.
Ferrari
Everyone Says Amex's Moat Is the Closed Loop. The Closed Loop Just Got Cloned.
American Express
Everyone Thinks Lilly Is Protected by a Patent. The Patent Is the Weakest Wall It Has.
Eli Lilly
UnitedHealth's Moat Was Never the Insurance. It Was the Right to Steer.
UnitedHealth
Intuitive Surgical's Moat Isn't the Patents. It's Three Walls Stacked on Each Other.
Intuitive Surgical
Patagonia Tells You Not to Buy the Jacket. Then It Repairs It Forever.
Patagonia
Shake Shack Didn't Earn Its Halo. It Was Pre-Loaded With One.
Shake Shack
AMD Won Almost Every Round of the x86 War. Intel Won the Only One That Pays.
AMD
TSMC Doesn't Just Make the Chips. It Owns the Calendar Everyone Designs To.
TSMC