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Not just the hardware: How deep is Nvidia's software moat?

The inherent inertia of software ecosystems
The big picture: Starting tomorrow, Nvidia is hosting its GTC developer conference. Once a sideshow for semis, the event has transformed into the center of attention for much of the industry. With Nvidia's rise, many have been asking the extent to which Nvidia's software provides a durable competitive moat for its hardware. As we have been getting a lot of questions about that, we want to lay out our thoughts here.
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Tech layoffs are becoming the new normal

Salaries have also stagnated, layoffs are second only to the dot-com bubble
The big picture: Job cuts in the tech industry last year were attributed to the need to economize, driven by inflation and a hiring spree during the pandemic. So, what's the explanation this year, especially when many of these firms have accumulated a significant amount of cash?
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