In the age of winner take all The war is over: Google won the search world, even successfully transitioning to mobile. Facebook won in social even successfully transitioning to mobile. Where tech is not the moat (cash is the moat) Facebook will buy, copy and maybe innovate in the space. It will run the clock on any upstart. Facebook mints cash: whats the burn rate at snap? For every Google there is Bing and for every Facebook there is a distant runner-up, oh snap!