the AI is a new raw ingredient to help you solve some customer problems that weren’t solvable before. The same old fundamental dynamics of whatever type of business you’re in still apply.

AI technology isn’t anyone’s moat—but that doesn’t mean moats will not be built

where does real power and durability come from? From the same sources it always has: economies of scale, network effects, counter-positioning, switching costs, brand, etc.

There’s an important difference between growth and hype, and you should care 100% about the former and 0% about the latter. They’re totally independent variables.

When art critics get together they talk about form and structure and meaning. When artists get together they talk about where you can buy cheap turpentine.

When AI commentators get together, they talk about alignment and defensibility and AGI. When builders get together they talk about where you can buy cheap GPUs.

excellence in anything is mostly about working hard and getting a lot of small details right. Execution is exponential. The “big idea” is just a seed. How the seed unfolds is what really matters.