Machine Learning Will Change What We Value

When we examine and value companies, we use a lens that is more than five hundred years old. Generally Accepted Accounting Principles (GAAP), which dates back to a Venetian Friar who lived in 1500 AD, has long been the determinant of what we how society measures value. According to this now global standard, things and money are valuable assets. People and ideas, and their development, are expenses. This means that investments such as education, healthcare, training, and research actually eat away at value creation.