AI makes software less of a moat

The author argues that as artificial intelligence drives the cost of producing software toward zero, software ceases to be a competitive moat, shifting the value to reusable networks and shared state. While AI can easily replicate applications, interfaces, and code, it cannot reproduce underlying network assets such as liquidity, provenance, reputation, and identity. Consequently, the author suggests that decentralized crypto concepts like tokens, DAOs, and shared onchain ledgers become increasingly valuable as foundational infrastructure for AI agents. Open article →