📊 EV’s Charts of the Week #61

Hi, I’m Azeem Azhar. I convene Exponential View to help us understand how our societies and political economy will change under the force of rapidly accelerating technologies. In today’s Charts, I look at...

Dept of the transition

Bigger and biggerer

Despite the Fed-catalysed tech-stock gyrations, the biggest tech firms still make up a larger than historical proportion of the S&P 500. (And this before we throw in Nvidia and Tesla.) Source: IsabelNet

Biggerer and biggererer

One measure for the scale is the rapid growth of the capital expenditures by the hyperscalers. In the 12 months to Sept 2021, Amazon spent more on capital expenditures than it had from its founding to Sep 2018. One way to think about capex is that it is management’s measure of optimism. Leadership that invests in capex thinks it can make an economic return on that investment in the years to come. Source: EV analysis; YCharts