Lens family
119 analysesMoat Anatomy ✕
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
TikTok's Algorithm Isn't Magic. That's Exactly Why It Can't Be Sold.
ByteDance / TikTok
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
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
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
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)
Etsy Sells a Word, Not a Wall. "Handmade" Is the Moat - and It's Leaking.
Etsy
TJ Maxx's Moat Isn't the Treasure Hunt. It's That You Can't Ship One.
TJX (TJ Maxx)
Costco's Moat Isn't the Low Prices. It's the Reason You Can't Afford to Cancel.
Costco
Nvidia's Moat Isn't the Code. It's the Eighteen Years You'd Have to Re-Live to Catch Up.
Nvidia
TSMC's Moat Isn't 2nm. It's Owning 2029 While Everyone Else Argues About 2026.
TSMC
Apple's Moat Isn't Design. It's the Cost of Leaving — and It Compounds.
Apple
AWS Didn't Win Because It Was First. It Won Because of What It Built While Alone.
Amazon
CrowdStrike's Moat and Its Worst Day Were the Same Decision
CrowdStrike
AMD Didn't Out-Invent Intel. It Stopped Owning the One Thing That Sank Intel.
AMD vs Intel
AWS Still Owns 30% of the Cloud. The Moat Is Holding — and Quietly Under Siege.
AWS vs Azure vs Google Cloud
Adidas Earned Its Way Onto the Field. Nike Bought Its Way Into the Myth.
Nike vs Adidas
Visa's Moat Isn't the Network. It's the Contracts the DOJ Calls a Cage.
Visa