I really liked this post from Arjun at Social Capital titled ‘Units of Time are the New Currency‘.

To lead in today’s world of global, social and mobile technology, one has to be relentless.

For Buffett, “buying a commodity and selling a brand” creates a moat around mindshare. For tech companies, a great product and well-known brand need to be defended by an ecosystem of other products.

Buffett’s not wrong, but technology has changed the nature of competition. While businesses were once considered only as valuable as the dividends they paid out, the “impenetrable” moats that let companies spit off excess cash are dwindling. A moat today is simply a temporary buffer that helps a company get ahead of the next innovation cycle.

Google is also out with their year in search. Think of all the time Google has put back in our hands with search and Google Maps.

Have a great Sunday.