A Berlin-based founder I met for lunch today told me how they see VC attitudes to technology moats in ventures shifting due to AI… When software can be built fast with AI, pure technology can no longer be the moat.
Business models can be copied faster than ever. (Imagine if Rocket Internet, back in their heyday, had access to Claude Code – how much faster they could have deployed ventures!)
If there’s nothing particularly defensible about the tech, then channel and distribution are going to matter more than ever.