4ZERO MATTER
MATTER USED TO RULE THE WORLD, but it doesn’t any longer. We may have lived in a material world once, but now we live in a world that is virtually matter-less. In fact, the less matter you have, the better. As G. Wolf wrote: “The fewer atoms you move, the more money you make.”1
In the old economy, tangible assets were at the heart of a financially solid company. But in the knowledge-based economy, intangibles are the key to success—intangibles and the market’s perception of the company’s potential. For today the value of a company is increasingly determined by market traders rather than accountants.
At no time has the gap between book value and market value been so great. Yet this is not surprising. Book value concentrates on ...
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