If your only defense against invading armies is a moat, you will not last long. What matters is the pace of innovation.
Elon Musk took to Twitter to criticize Warren Buffett's investment philosophy, and threatened on May 5 to compete directly with one of the Berkshire Hathaway chairman's most famous businesses, See's sweets. Buffett is also a longtime proponent of what he calls competitive advantage "moats" as an investment strategy.
He followed it up asserting that he was "super super serious" about the venture before diverting and mentioning the plot of Willy Wonka. During a recent Berkshire Hathaway shareholder meeting, he responded to Musk's comments about moats, claiming that "there are some pretty good moats around".
According to the Electrek blog, Musk sent an email to Tesla employees telling them to notify the company's human resources department in order to justify "the excellence, necessity and trustworthiness" of "every non-Tesla person who has badge access to our buildings or network access to our systems".
Britain to Trump: don't ditch Iran nuclear deal
Trump is facing a self-imposed May 12 deadline over whether to uphold the 2015 nuclear deal, which he has long criticised. On Monday, Rouhani said Iran had "thought of all the scenarios and have taken appropriate measures".
"Certainly you should be working on improving your own moat and defending your own moat all the time".
If you've read the headline and are asking yourself, why the CEO of an electric vehicle company would start a candy business, then we have one word for you: flamethrower.
Eventually, Musk began crowdsourcing ideas for his hypothetical candy company, and his followers began suggesting all manner of products for him to develop, from healthy candy to candy that doesn't cause cavities. But Musk went ahead and doubled-down. In a follow-up interview Sunday with Yahoo Finance, Charlie Munger, Buffett's partner and vice chairman of the firm, called Musk "bold and brilliant" and added, "I haven't the faintest idea how Elon Musk will turn out, but he has a considerable chance of success and considerable chance of failure".