Speaking of moats and of Twitter threads, this one:
The broad point is that the Internet made physical-world distribution moats irrelevant. And paid markets on search/social levelled the playing field online, which meant that prices have gone up, yields have gone down; leaving companies with the largest budgets to dominate the space (but, as we have seen earlier this month, capital as a moat is less and less a defensible strategy).
Which means that companies need to find other means to build engagement and loyalty – other moats. And, the writer says, this is where we will see diversity as companies approach the problem in their own unique ways and biases. And it seems that they’ll variations on content.