#WarrenBuffett pioneered the use of this term, and now it's all but mandatory for anyone launching a business or new product to explain where *their* moat will come from.

As #DanDavies writes, these "moats" aren't really moats in the Buffett sense. With Coke and Disney, he says, a "moat" was "the fact that nobody else could make such a great product that everyone wanted." In other words, "making a good product," is a great moat:

https://backofmind.substack.com/p/stuck-in-the-moat

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