Follow the Money.
Independent teardowns of the businesses, supply chains and markets that move the world.
Featured Teardown · Supply Chain
India gets ~2% from $1399 iPhone
India assembles roughly a quarter of the world’s iPhones but captures only about two percent of the value in each one. The four components behind ~72% of the bill of materials are entirely foreign. We traced where every dollar actually goes.
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Research areas
Long-form research across four domains. Supply chain is live; the others are in development.
Supply Chain
Assembly, value addition and industrial policy tracing where products are made and where value is actually captured.
Live
Financial Markets
How capital, pricing and incentives shape markets and the businesses inside them.
In development
Technology
The economics and mechanics behind the products and platforms shaping industry.
In development
Sports
The business and analytics of sport the systems behind performance and revenue.
In development
Why Alternate View
Most business stories stop at the headline. We follow the money underneath it.
The Number Game
What does the economics actually look like?
The Value Chain
Who makes what, how, when and where is value captured?
The Incentives
Who benefits, who does not, and why?
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