What type of software businesses survive and thrive in the era of AGI? Which ones get wiped out? Is there any moat in the era of AGI?

You need to learn the parable of picking up dimes in front of the steam roller, which I think originally is attributed to Jean-Louis Gasset, the founder of BOS. The idea is that in a genuine platform war (which in the tech industry we haven't had for a while), new business opportunities are kind of like little dimes you see in the street in front of a giant platform steam roller. If you're agile enough, you can jump into the street, grab the dime, and jump out. In fact, you can do it repeatedly. The only problem is that if you stumble and fall once, you die.

There used to be a lot of wisdom in the entrepreneurial ecosystem about how to survive such a platform in a more durable way. For example, if you own the customer, then you can play the major platforms off against each other. Or, if you study the case, for example, of Intuit, which survived the attempt of Microsoft to absorb that product feature into their own platform monopoly at the time, there are lessons to be learned. But of course, every platform war is different, and I'm sure there will be new lessons that we will learn from this one.