Build experiences that are user dependent. The value isn't in the software it's in the users. That's the ultimate moat. It's what isn't properly grasped about GPT's position, insofar as they don't mess up big: they have captured a zillion users, they're Kleenex. Ask GPT = Google it.

You don't want to be in the CD selling or radio business with the Internet & digital & streaming & smartphones & iPods bearing down on you. Go for concerts. Notice that humans are spending more than ever on live concerts. Disney World and Disneyland still command extraordinary pricing power, despite everybody hiding inside on their phones.

LLM clones of eg Photoshop will end up being worthless, like ideas generally. The software will be worthless for the same reason ideas are: they're too easy. Users are hard, software will be (relatively) easy.

Is the value in McDonalds in the food? Everybody knows it's not. McD captured consumers, their heft is extraordinarily difficult to displace. Ie habits, brand awareness, location, etc.