I watched the Tyson Fury fight on Netflix recently and pointed out the giant Netflix logos all over the stadium to my wife. She didn’t think twice about it. Of course Netflix was streaming it. That’s what Netflix does. But if you remember the days of red DVD envelopes showing up in your mailbox, that moment is kind of wild. And that’s not an accident. It’s leadership. We’ve already talked about economic moats—the defenses that protect a business. But defense alone doesn’t win