Moat Migration: From Product to Service Delivery

As products become commoditized and product-based competitive advantages erode, platform companies' moats naturally shift toward the ability to embed products deep into customers' operational workflows. This requires substantial human investment in hands-on engagement, customization, and long-term on-site presence. The moat evolves from 'whose model is strongest' to 'who best understands how to weave their model into the customer's organizational DNA'.

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