“The language of business is accounting.” (Warren Buffet, 2014)
“That language is now broken.” (Paul Adams, 2021)
The world is drowning in intangible assets. And yet they’re being left off balance sheets and out of our conversations. Why is that?
Before you think that this talk isn’t for you, Paul has ninety-one trillion reasons for why it is. Because that’s the value of the global economy and virtually all of it, an estimated 90%, is based around intangible assets. Our cognitive biases and archaic accounting systems do not recognise the value of intangible assets, a value which - unlike the screen you’re watching this on - is poised to grow exponentially. So what exactly are intangible assets, and why do they matter to you, to accountants and to the economy? Let’s let Paul answer that.