Fascinating stuff, thanks Ben. Surprised Apple’s ARM transition was your go-to example of a cost moat though. Whatever they’re saving in components is surely heavily offset by all of the extra R&D, porting, tool building etc? For my money it’s more about performance, power consumption and hardware/software integration, and they’d have still done it if the chips cost as much as Intel’s. Lots of other moats in that though :-)
Fascinating stuff, thanks Ben. Surprised Apple’s ARM transition was your go-to example of a cost moat though. Whatever they’re saving in components is surely heavily offset by all of the extra R&D, porting, tool building etc? For my money it’s more about performance, power consumption and hardware/software integration, and they’d have still done it if the chips cost as much as Intel’s. Lots of other moats in that though :-)