[nico]

> This leads to the hilarious paradox where a software based business worth millions could be built on top of code valued around 60k to write.

Or the fact that software based businesses just took a massive hit in value overnight and cannot possibly defend such high valuations anymore.

The value of companies is quickly going to shift from tech moats to brands.

Think CocaCola - anyone can create a drink that tastes as good or better than coke, but it's incredibly hard to compete with the CocaCola brand.

Now think what would have happened if CocaCola had been super expensive to make, and all of a sudden, in a matter of weeks, it became incredibly cheap.

This is what happened to the saltpeter industry in 1909 when synthetic saltpeter was invented. The whole industry was extinct in a few years.