The Strange Phenomenon Secretly Supercharging the S&P 500 — Startups
Imagine checking your brokerage account and seeing your S&P 500 index fund pop nicely this quarter.
Solid earnings growth, right? The economy’s humming along.
Not so fast.
A big chunk of those “earnings” didn’t come from selling more ads, chips, or cloud services. As it turns out, they came from…