176. Moats Don’t Exist

from Investing Unscripted · host Jason Hall and Jeff Santoro

Jason and Jeff discuss the concept of moats in investing, exploring their validity, limitations, and real-life applicability across various industries, including technology, retail, and pharmaceuticals. 01:25 Debating the Existence of Moats 04:01 Intangible Asset Moats: Apple and Nike 15:12 Pharmaceutical Moats and Patent Protection 16:42 Cost Advantages and Efficient Scale 24:13 Amazon's Distribution Network Moat 24:44 The Amazon Shopping Experience 26:05 Amazon's Cost Advantage and Business Model 28:18 Switching Costs and Market Stickiness 29:12 Shopify's Role in E-commerce 31:15 The Risk of Complacency in Companies with High Switching Costs 36:59 Network Effects in Business 43:55 The Importance of Competitive Advantages Companies mentioned: AAPL, ADBE, AMZN, KO, MA, NKE, ON, SHOP, TSM, UA, V ***************************************** Join our Patreon Subscribe to our portfolio on Savvy Trader ***************************************** Email: [email protected] Twitter: @InvestingPod Check out our YouTube channel for more content: ****************************************** To get 15% off any paid plan at fiscal.ai, visit https://fiscal.ai/unscripted ****************************************** Listen to the Chit Chat Stocks Podcast for discussions on stocks, financial markets, super investors, and more. Follow the show on Spotify, Apple Podcasts, or YouTube ****************************************** The Smattering Six 2025 Portfolio Contest 2024 Portfolio Contest 2023 Portfolio Contest Learn more about your ad choices. Visit megaphone.fm/adchoices

Episode metadata supplied by the publisher feed · Published Oct 22, 2025

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176. Moats Don’t Exist

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