People overthink AI moats. It’s not models, it’s data that can’t be scraped. Duolingo has real longitudinal learning data, how humans fail, retry, adapt and correct mistakes over years. Adobe has creative process data, not just images but every edit, undo, hesitation and iteration. Figma captures collaborative human behavior in real time, how teams argue, converge and align on decisions. Mastercard owns a global economic behavior graph, real money, real risk, real trust signals across decades of transactions. This stuff is causal, identity-consistent and closed-loop. You can’t recreate it by crawling the internet. That’s where the real AI defensibility will come from, not just bigger models.

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