Jonathan Weil

So, you know, there's an opportunity for companies to be more transparent and start giving those disclosures earlier.

But there hasn't been any sign yet that any of the really big tech companies for which this is a crucial problem are going to be adopting those new rules early.

Not necessarily, but what it does, it gives us insight into blind spots that would keep investors from being able to evaluate

the companies and how frothy things may be.

Because if you're looking at, say, a company's cost of revenue and you can't really tell what the components are of it, it's really hard to project out what a company's gross margins are going to be if you can't tell how much depreciation expense got baked into there.

The same thing with research and development or the other expense lines.

If people already have a concern that there's a bubble, what could help put investors' mind at ease or confirm perhaps their thesis is actual information and visibility.

And the less you have of that, the more it leaves people guessing and openly wondering the question, is this a bubble?