moat
3 articles
Anthropic Paid $400M for 9 People — Is Your AI Product a Moat or an API Wrapper?
Anthropic acquired a 9-person biotech AI team for $400M, revealing how model providers eat vertical startups. Huryn outlines three moats: proprietary data, distribution, and trust.
The Vertical SaaS Reckoning — A 10-Year Veteran Dissects How LLMs Are Destroying Moats (And Which Ones Survive)
Nicolas Bustamante — founder of Doctrine (Europe's largest legal information platform) and Fintool (AI equity research competing with Bloomberg/FactSet) — dissects 10 classic moats of vertical software from both the disrupted and disrupting sides. 5 moats destroyed by LLMs, 5 still standing. Includes a three-question risk assessment framework for evaluating your SaaS holdings.
The SaaS Moat Is Crumbling — When LLMs Eat the Interface, All That's Left Is API vs API
Nicolas Bustamante argues LLMs are ending Ben Thompson's Aggregation Theory. With chat as the universal interface, SaaS companies' moats built on 'workflow complexity + user muscle memory' evaporate, leading to pure API vs API commodity competition.