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The Moat isn’t the code. It’s the conviction.
School Bulletin

The Moat isn’t the code. It’s the conviction.

Welcome to the 19th Edition of Public School Ventures' School Bulletin!

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Team Earnest
Apr 30, 2025
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GROUNDWORK
GROUNDWORK
The Moat isn’t the code. It’s the conviction.
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Free An individual viewing glowing numbers on a screen, symbolizing technology and data. Stock Photo

🏁 Preamble: "Building for 2037, Not 2017"

It’s tempting in venture to look back—to mimic what worked, to pattern-match the last fund that broke out, to assume that what scaled before will scale again. But here’s the thing: we’re not in 2017 anymore.

The AI wave didn’t just rewrite how companies are built—it reshaped how moats are formed, how firms are de…

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