In the investment and tech circles, I often hear an extremely arrogant argument: "What you're doing, I can do too, so you have no moat." This is simply the biggest lie in the business world. I want to refute this view with a harsher but more realistic perspective: You indeed "can" do it, but you haven't. If you lack this kind of execution before I'm buried, then your so-called "potential" means nothing to me, and the moat I've already built is the Great Wall. It's like how everyone has a non-zero theoretical chance of winning an Olympic gold medal or a Nobel Prize before they die...