alt Hacker NewsMcDonalds doesn't have a moat? Eh - yes they do.
They've global procurement, the franchise model means the franchisee shoulders a lot of costs, they own the land the restaurant is on in 50%+ of the locations, and they own the technology system that underpins their app + ordering.
It's a massive moat.
That's not a moat, those are advantages.
Anybody can open a franchise restaurant business, of course not initially having the margins of a well established international behemoth.
A moat is what ASML has, having achieved something others spent many years failing.
A moat is what NVIDIA has with CUDA, against which so much software is written.