Are the FAANGs Really a Supergroup?

Facebook, Apple, Amazon, Netflix and Google parent Alphabet “can’t get away from each other,” says an article last month by Bloomberg columnist Nir Kaissar, who argues, “But look closely and it’s no longer clear why they should be lumped together at all.” For example, Kaissar points out, the Global Industry Classification Standard (GICS) classifies neither Amazon nor Netflix as tech companies–but rather tags Amazon as a retailer and Netflix as an entertainment company. As of… Read More