It’s only in the Thomson Reuters Business Classification [pdf] that we have a technology sector, and it’s also too broad to capture what we really mean when we talk about “tech companies.” Here, Google is part of the technology sector, but so are long distance telephone companies, wireless carriers, software wholesalers, and payroll handlers. This isn’t intended as a takedown of classification efforts — they’re useful, but only if you understand what goes into them and interpret them with restraint. Tech companies are so hot right now that every company wants to be one.

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