Today we’re seeing that a moat—a barrier that protects a company from low-cost competitors or new, disruptive technology—isn’t enough to build a lasting business.
Facebook, Twitter and Instagram all started life as revolutionary networks that brought existing real-world relationships online. Today, they are aging utilities, powering an outdated version of the social internet.
Nothing lasts forever – not even unicorns. But some unicorns live long lives.
First you want it. Then you need it. Then everybody can’t live without it – like a utility.