My goto moat test: is there an obvious ‘death by Amazon’ route? Amazon can strike fear into entire industries with scale and capital. Very few tech companies could withstand a full frontal assault by Amazon. I can’t see how this trend won’t get worse if AGI occurs during our lifetime.
The only reason there is not more AI or robots doing the majority of the work available to humans, is either it’s cheaper to hire humans or companies just haven’t gotten around to it yet.