Tag Archive : Focusing

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The House Judiciary Committee just released its antitrust report which states that Amazon, Apple, Facebook and Google have become gatekeepers sitting on supra-competitive profits and unchecked, significant and durable market power. The simple question of how much do technology firms actually earn is non-trivially difficult at this point. Partly because U.S. accounting rules treat research and development (R&D) and Selling, General and Administrative (SGA) outlays as expenses that depress the reported accounting return on assets (ROA). This is despite the fact that R&D and SGA increasingly contain substantial investments in intangible assets. 

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