TLDR Tech / Founders
You Just Raised $5M to Build Someone Else's Moat
Every week a founder pitches "we fine-tuned the best model on domain data" like that's a moat. It isn't. Every competitor has the same models at the same price per token. The real defensibility comes from one decision most teams skip - building agents that remember things between sessions. Most AI products forget everything after each conversation. The ones that retain what you changed, accepted, and rejected get meaningfully better the longer you use them. After two years of daily use, switching feels impossible - not because of a contract, but because a new product would have to relearn everything from scratch. The moat isn't the model. It's how much the system has learned about you over time.
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