Harvard Business Review

FEBRUARY 26, 2018

Contrast Walmart’ $160 billion of hard assets for its $300 billion valuation against Facebook’s $9 billion dollars of hard assets for its $500 billion valuation. The economic purpose of these intangible investments is no different than that of an industrial company’s factories and buildings.

Company 8

Company Intangible Assets Depreciation IPO 8

Harvard Business Review

JUNE 22, 2016

Meanwhile, the laggards continue to spend their time and money on assets that do not scale so easily — physical goods (such as manufacturing plants or inventory) and human capital (such as highly trained employees that deliver services).

Intangible Assets 8

Intangible Assets Business Model How To Intellectual Capital 8

Harvard Business Review

AUGUST 27, 2018

In a parallel development, the number of companies listed on U.S. stock exchanges has declined by almost 50% from its peak in 1996, despite dramatic increase in aggregate market capitalization. Emerging digital firms compete with knowledge, strategy, and expert human capital, attacking even the largest established firms.

IPO 8

IPO Company First-mover Advantage Intangible Assets 8