Paul Walborsky on @andrewchen

One wrinkle worth thinking about: unlike Web 1.0 and 2.0, where incumbents were slow to react, today’s corporate leaders are digital natives who fully grasp the power of AI. They aren’t just sitting on their hands—they’re aggressively investing, locking down proprietary data, and leveraging their distribution advantage. This game won’t be as open as past cycles. The real question is: if incumbents hoard data and distribution, what’s the new edge for startups? Will it come from novel UX, emergent behaviors, or entirely new business models? Feels like a harder chessboard than before.