For more than 60 years, investors, analysts, business leaders, and even governments, have classified companies based on industries. First there were Standard Industry Classification codes, which were introduced in 1937, then the North American Industry Classification System, and now we have Standard and Poor’s Global Industry Classification Standard (GICS). Even though these systems are updated regularly, we can no longer rely on standards and measures that were developed in a different age to reflect today’s realities — especially when we’re evaluating tech firms.