> "Building a moat" frames anti-competitive behavior as a defense
This is a drastic take, I think to most of us in the industry "moat" simply means whatever difficult-to-replicate competitive advantage that a firm has invested heavily in.
Regulatory capture and graft aren't moats, they're plain old corrupt business practices.
This is a drastic take, I think to most of us in the industry "moat" simply means whatever difficult-to-replicate competitive advantage that a firm has invested heavily in.
Regulatory capture and graft aren't moats, they're plain old corrupt business practices.