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Story perspectives

From Tangible to Intangible: The Shift in S&P 500 Assets

11/12/2025

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Summary

Story summary

In the 1970s, more than 80% of S&P 500 assets were tangible, versus about 10% today.
The shift reflects the U.S. economy’s move from manufacturing to services, which are more profitable.
Marriott International and Delta Airlines illustrate the change, relying on intangible assets like brand power and partnerships.
Author Mike Bird’s The Land Trap emphasizes the enduring value of land as a tangible asset amid the uncertainty of intangible wealth.

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Story summary

In the 1970s, more than 80% of S&P 500 assets were tangible, versus about 10% today.
The shift reflects the U.S. economy’s move from manufacturing to services, which are more profitable.
Marriott International and Delta Airlines illustrate the change, relying on intangible assets like brand power and partnerships.
Author Mike Bird’s The Land Trap emphasizes the enduring value of land as a tangible asset amid the uncertainty of intangible wealth.