BHT for the radicals...

Dave Long (
Sun, 24 Oct 1999 23:59:34 -0700

> 2) Paul Strassman
> is right in that companies think information is instantly perishable because
> accountants can't understand anything that's not bean-shaped

Accountants may very well understand members of the set of things
which are not bean shaped, but they generally try to keep "book
value" conservative.

Provide a sufficiently liquid resale market for "knowledge,
information, and experience", and I'm sure accountants would create
a reasonable home for it on the balance sheet.

As it currently stands, "goodwill" seems to be where that sort of
thing winds up. I wonder how racing stables account for their
assets? Some million-dollar yearlings will make their owners
several millions; most will not. If Lexington has figured out
suitable accounting techniques, they may be very applicable along
Sand Hill.