Is your company building moats? This is superinvestor Warren Buffett's term for durable competitive advantages. Moats are essential because any company that starts to turn a consistent profit is going to attract competitors and copycats and that will put pressure on their profits unless they have some moats to keep the competitors away. No moat lasts forever, but some can last for decades. In technology, moats don't last long, and they're getting shorter with each passing year.