The 2010s: When all companies became tech companies

The 2010s were dominated by tech companies, with FANG stocks (Facebook, Amazon, Netflix, Google) helping the S&P 500 return more than 350 percent over the decade. The index would have done even better if Domino's Pizza, also a tech company, had been included.

Why it matters: these companies don't look like earlier decades ' tech firms. They don't make hardware for computers; they don't market applications either. We don't even make high-tech planes such as Boeing or high-tech cars such as Tesla.

• All these businesses are in markets that are very mature. With respect to where they get the majority of their money, Amazon is a retailer, Netflix is in video entertainment, Google and Facebook are in ads, and you don't need me to tell you what Domino's business is in.
• These days, a tech company is any organization that can use technology to increase the delivery of its goods. In that sense, not just a billionaire, Kylie Jenner is a tech billionaire. Also Starbucks may claim to be a tech firm.