Remove 2013 Remove Depreciation Remove Intangible Assets Remove Succession
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Why Financial Statements Don’t Work for Digital Companies

Harvard Business Review

Twitter reported a loss of $79 million before its IPO, yet it commanded a valuation of $24 billion on its IPO date in 2013. In a previous HBR article , we argued that, in contrast to physical assets that depreciate with use, intangible assets might enhance with use.