If OpenAI has exclusive rights to AI generation for Disney and other IP rights holders, that would create the kind of moat they've been missing so far.
not for disney content. Disney can pick OpenAI as the winner for this by not signing deals and suing anyone else.
Can you buy equity from OpenAI without also giving OpenAI a license to use your IP? Even if the equity is worth $1 billion, how much is Disney's IP license worth?
It unspoken business model is giving an IP license to anyone that can breathe at make a rev share agreement or hefty sum - so, less than you think.
A moat doesn't have to be a feature, and equity stakes have been fairly successful moats (eg. Much of AWS's ML services being powered by Anthropic models due to their equity stake in Anthropic).
I don't need some stuck up HNer telling me about stuff I deal with in my day-to-day job.
Edit: can't reply
> a business deal that can be transferred to a new partner the second it expires is much more temporary
Generally, these kinds of equity deals include an MFN clause.
Then I guess we need a new term because that's not how I interpret the term moat either. To me, ChatGPT chat history is a moat. It allows them to differentiate their product and competitors cannot copy it. If someone switches to a new AI service they will have to build their chat history from scratch.
By comparison a business deal that can be transferred to a new partner the second it expires is much more temporary.
Every service has a chat history. You are talking about stickiness, which is (roughly) the same for every product.
ChatGPT wins a bit with stickiness because their AI personalizes itself to you over time, in a way that others don't quite do.
A moat is something unique. It can't really be a moat if all services offer it.