74- What are economic moats and why do they matter to designers?

According to the Oxford dictionary, a moat is “a deep, wide ditch surrounding a castle, fort, or town, typically filled with water and intended as a defence against attack”. Ok, basically some kind of defense around the castle. So, how does this concept translate to business? And design work? Martyn Reding, chief design officer at Upzelo and former head of design at Virgin Atlantic, shared how he learned about economic moats and how he uses the concept in designing digital products.