Moats vs. pace of innovation

like a re-run of Maginot line vs. blitzkrieg, strategy (management) falls back into war-like metaphors

"Moats are lame. They are nice and quaint, but if your only defense against an invading army is a moat you won’t last long. What matters is the pace of innovation, that is the fundamental determinant of competitiveness."

– @elonmusk on earnings call Q&A, Question by @Gfilche https://t.co/SabKX3Mjdr

— Ian Cassel (@iancassel) May 3, 2018

Economist today on Buttonwood – Buffet, value investing, moats The quest to find companies that have a lasting competitive edge

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