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Ali Aydan: The era of the “Digital-Only” moat is over
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For the last decade, the investment thesis was simple. Buy SaaS. Avoid hardware. The logic was that software had zero marginal costs and infinite scalability. Hardware was seen as messy. It required inventory, logistics, and capital. But in 2025, the wind has changed. We are seeing a massive correction in the market. Why? Because…
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Ali Aydan: For a decade, the investment memo was simple.
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Purely digital. Zero inventory. Infinite scale. The market convinced itself that British manufacturing was a nostalgia play, not a business strategy. Capital chased lines of code because they were cheap to replicate. It avoided machined steel because it was heavy, complex, and required patience. But the tide is turning. The digital sector is now…