If we replace all instances of AI with SaaS, his point still stands. However, many VCs aren't looking for a moat when they invest in Saas, they're looking for

If we replace all instances of AI with SaaS, his point still stands. However, many VCs aren't looking for a moat when they invest in Saas, they're looking for a good product with good founders and a good team. IF you're only looking for moats, you're going to be a bad VC.