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Research on Business Flows That Move the World.

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Supply Chain

Assembly, value addition and industrial policy tracing where products are made and where value is actually captured.

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The economics and mechanics behind the products and platforms shaping industry.

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The business and analytics of sport the systems behind performance and revenue.


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.