
“What is your moat?” This is the most pointless question investors ask pre-seed founders.
Picture two guys in a tiny apartment, sleeping on mattresses, living off food from sponsored tech events.
What moat do you expect them to have?
Speed Is the Moat
At this stage, it’s all about moving faster than the next guy.
These two have no money, no office, no employees. But they do have one advantage: speed.
No committees. No approvals.
They just ship. And if they listen to customers, they’ll ship the right things.
What to Ask Instead
Instead of asking two guys living off ramen what their moat is, ask one of these questions instead:
- What achievements are you most proud of?
- Why are you working on this idea?
- Who are your customers?
- What are your customers telling you?
- How many do you have?
- What do they pay each?
- Can you demo your product for me?
These questions get at things that are actually relevant: team, product, and customers.
Fording the Moat
No software startup today has a real moat.
Two years ago, OpenAI looked unstoppable. Now, they’re well behind Anthropic.
Anthropic moved faster.
If even OpenAI isn’t safe, don’t expect a moat from a 2 month old startup.
Wrap-Up
Too often, investors ask the same questions everyone else asks. We don’t stop to think whether the questions make sense.
When anyone can Claude Code a product in a weekend, moats in software are rare. And at pre-seed, they’re nonexistent.
Instead of worrying about moats, I want to know if the founder is an exceptional person.
Has she done something big in the past? Is she moving at warp speed?
An exceptional founder moving fast — that’s the only moat left.
What’s the worst question you’ve been asked by an investor (no names)?
More on tech:
No, You’re Not Getting a $250k Angel Check — Here’s Why
You’ve Got Your First Customer. Now, How Do You Raise Money?
The Digital Ocean Seed Deck: What an $18B Company Looks Like at the Earliest Stages
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