Bilal Zuberi of Lux Capital joins Nick to discuss Startup Moats. In this episode, we cover:
- An overview of moats
- Example companies with moats
- How to build a monopoly from the outset and if Bilal requires in startups he invests in
- Incremental vs. step-change innovation and the implications on the breadth and depth of the moat
- The types of moats
- Bilal's take on data and network effect-based moats using a business model as a moat
- His thoughts on building brand as a sustainable competitive advantage
- How NPS score plays a role
- An example where Bilal thought there was a moat but it proved not to have the defensibility predicted
- And finally I get Bilal's take on Lux's investment strategy, their portfolio and how they are building value in the water, on the ground, in the air and even up in space
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The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified