Capital is a moat today. “I absolutely believe capital is a moat. Markets pick winners, and then it becomes a self-fulfilling prophecy. Capital creates both the ability to scale at an extraordinary pace and a brand for those businesses. Talent ends up flocking, then they win more customers, and the virtuous cycle continues.” @spdholakia Love to hear your thoughts @eriktorenberg @TurnerNovak @semil @m2jr