Entrepreneur's profit theory, human capital theory and entrust agent theory provide theoretical basis for the reasonableness of the managers' stock right incentives.

In other words, strategy theory does not deal with short-lived or temporary differentials, but 'persistent' profit differentials between firms.

A third theory is that big tech is simply uncool — that not only is profit growth for these companies slowing, not only are their traditional markets are drying up, but their brands repel investors.