[xnx]

> models have no moat

Possibly true. Any smart innovations developed by one organization will be smuggled into others.

Training, inferring, and data collection, infrastructures are definitely moats. High-volume usage feedback is also hard to come by for new entrants.

[thewebguyd]

And Google has all of those. Custom silicon, more data than anyone else and probably the most comprehensive data collection system, and phones in the hands of 73% of the global smartphone using population to push gemini into to get high volume usage feedback and even more telemetry and data.