Peter Thiel and His Version of Moats: Durability

"More important than being the first mover is being the last mover. You have to be durable. In this one particular at least, business is like chess. Grandmaster José Raúl Capablanca put it well: to succeed, "you must study the endgame before everything else"."

Have you ever tried to philosophize on what would be the end-game of a company? Try to play it backwards.