The 365 Commitment

Day 210 - The Moat You Cannot See

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Title

The Moat That You Cannot See: Why Time Is the Ultimate Competitive Advantage

Opening Question
  • An investor asks: “What is your moat?”
  • Immediate instinct: point to patents or intellectual property
  • Deeper realization: that’s not the real answer
    • Core Idea
    • A moat is not a single idea or invention
    • A moat is the accumulated value of time
      • What Investors Often Look For
      • Patents
      • Proprietary technology
      • Algorithms
      • Legal protection
        • Why That’s Incomplete
        • Ideas can be copied
        • Prototypes can be built quickly
        • Features can be replicated

          • What can’t be copied:

          • Years of iteration
            • ...more
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            The 365 CommitmentBy Guy Reams