There must be tens of thousands of companies that started or pivoted to AI in the past 12 months. Many of them are doing stuff that has no moat at all. Many,

There must be tens of thousands of companies that started or pivoted to AI in the past 12 months. Many of them are doing stuff that has no moat at all. Many, perhaps most of them are already giving up? I wonder what is working, which AI companies are getting a foothold?