I agree with all of that as well, and that in the long-term models are not a moat. But, if we accept this is all moving at a breakneck pace due to belief in a first-mover advantage, I don’t think Apple, even if they wanted to, could now flip a switch and compete with what Google announced yesterday.
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Will it matter though? The business models around this stuff are yet to be validated.
Apple is very rarely the first mover, but often one of the players actually succeeding, once they get to it.