I think a lot of founding is pretty much a commodity, e.g coming up with a viable idea and then implementing it has become rather easy now with these tools. The real barriers are access to capital and clients. From the startup I joined (I'm the 6th person) I see how much the founders personal connections are important. That indeed can't be commoditized yet. But the process of coming up with an idea and iterating on it ? The founders didn't even come up with our idea - they thought of something initially but the investor led them to his own idea - totally different. That's how the company was born. Now the first clients are connected to the investors. Etc.

So access to capital and clients, connections ,that's the last standing moat I think.

It's a commodity in the same way that making music is a commodity (i.e. using production tools to make it sound good). But music today is so much more generic and boring than it used to be.

You seem to be mistaking the "rules" of the ZIRP SV nonsense bubble for the rules of reality.

Understandably so, but still.