"Inability to protect IP forces higher-quality differentiation Michael (a magician) explained that magic has never had enforceable copyright — performers routinely copy each other's tricks. His mentor Aussie Wind posed the key question: what separates a good magician from a bad one when they can both buy the same trick deck? The answer was pure personhood: "when Aussie Wind performs trick A and I perform trick A, him performing it is going to be significantly better — a thousand times better — because he's just amazing." The practical takeaway: in any field where your technique or content can be copied (increasingly everywhere), double down on the irreplaceable qualities of your specific perspective, voice, and presence rather than relying on legal or structural moats. Source: Michael (Bond co-founder), a16z crypto podcast, Creator Economy & Crypto with Bond"