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How Intuit Built a Moat on Switching Costs
Lucas and Luna examine how Intuit has constructed an economic moat not through patents or network effects, but through deliberate, multi-layered switching costs that keep customers locked into TurboTax, QuickBooks, and Mint. They break down the specific mechanisms: the time tax of re-entering years of financial data, the ecosystem integration between consumer and small-business products, and the regulatory complexity that makes competitors' alternatives feel risky. Lucas argues that Intuit's moat is stronger than it looks because the switching cost is psychological as much as…
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