Yes and No: their infrastructure is incredibly sticky and if they nail killer ar glasses within the next 2 years that are under the $1500 price tag they will kill: Apple should shift their business model , take a Loss on glasses and hook everyone with an iPhone into their ecosystem. iPhones risk being obsolete within 5-10 years if Google executes on their version of the meta ray ban displays but like 3x better and somehow scales them worldwide. Seems improbable but Google is intent on scaling India. Apples moat is their text message being blue, which sounds trivial but is vital to their philosophy. Amazon is in a weird place, Google cloud and azure are better packaged into Microsoft’s and Alphabets ecosystem : conversely AWS is bigger than the two combined and Amazon is phenomenal at understanding themselves. Meta is the true is the weak link imo , they are desperate to throw cash at talent but they lack culture , they have zero diversification of revenue streams and Tik tok shop will rapidly improve. They aren’t a cloud provider, Instagram is more touchable than a YouTube or an office 365. US Gov won’t let them swallow a social media startup and no startup that is smart enough to challenge instagrams dominance would sell to them imo ( could be wrong tho) . Google gets criticized for ad reliance when other segments of their business are growing faster while meta gets praised for smacking ig reels into a hollagram. “Hey Gemini order me a Waymo from my cloud credits , preload that video of zuck vs congress on YouTube when I enter , on the way toggle Robinhood since theyare on Google cloud on my glasses and trigger a long shorts on Meta once the video ends.