Tech is no longer the moat. Here is what replaced it.

Tech is no longer the moat. Everyone has access to the same models, APIs, and no-code tools. What now defends a company is not what it can build, but how clearly it thinks, how deeply it embeds, how efficiently it operates, and how powerfully it reaches the market. In 2026, the winners won’t simply have AI. They’ll have a point of view.