THE FALLACY OF "DEFENSIBILITY"

Summary from the TLDR Founders newsletter

The defensibility question can become a trap at seed. Most great companies do not start with a perfect moat. They build one by learning faster, hiring better, earning trust, and executing for longer than everyone else. The founder takeaway is not to ignore moats. It is to know when “what stops OpenAI from building this?” is a real risk, and when it is just a lazy way to underrate speed, taste, and customer obsession.