# Software and Models Both Go to Zero

"we have no moat," and what's left with value

In May 2023 a Google memo leaked — "We Have No Moat, And Neither Does OpenAI." Taking that as the thesis, this piece argues software and models are both racing toward zero marginal cost, and works out what still holds value once they get there.

**中文原文 · 知乎:** https://zhuanlan.zhihu.com/p/2059786848961144783

**English original · X:** coming soon