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> To me, ChatGPT chat history is a moat.

Every service has a chat history. You are talking about stickiness, which is (roughly) the same for every product.

ChatGPT wins a bit with stickiness because their AI personalizes itself to you over time, in a way that others don't quite do.

A moat is something unique. It can't really be a moat if all services offer it.



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