Why software defensibility breaks down when everyone becomes a coder

We're definitely seeing the same thing on our side. And it's not just the the coding. We're also starting to see things like Vibe Marketing and things like that happen. So what do you think is the future of kind of software only businesses? Or, like, how do you think about how do people build defensibility and moats and unfair advantages and all those sorts of things that we as VCs generally like when everything starts to become, you know, reduced down to

unskilled people having superpowers and things that they previously couldn't do? We are definitely entering the era of, like, mass produced software. And, you know, generally, my thesis for the past many years has been that we are transitioning