"While no doubt AI will weaken the moats of some software businesses, Constellation’s moats never stemmed from barriers to entry" - this is such a great and under-appreciated comment. ML said it himself the only barrier to entry is a phone and check book!
"While no doubt AI will weaken the moats of some software businesses, Constellation’s moats never stemmed from barriers to entry" - this is such a great and under-appreciated comment. ML said it himself the only barrier to entry is a phone and check book!
Thank you, really glad you liked that!
I have recently turn CSU into my biggest position in portfolio.
Hope I’m not wrong!