Several traits combine to make a company a possible candidate for a trillion-dollar valuation. The T Algorithm:

Global — a product that leaps geographic boundaries
— AI — behavioral data that senses your tastes and tailors the product to you
— Benjamin Button — aging in reverse, an algorithm that improves with use
— Likable — seen as friendly
— Citizenship — perceived as doing good in the world
— Accelerant — being able to attract top talent.

The shorthand is firms that become operating systems, dashboards, or portals for a large consumer category, and have network effects that reverse the aging process. Every Google search makes the algorithm more agile, stronger, younger. The Four have achieved OS status for their respective categories, and use their portal power to launch other businesses like X-15s being dropped from a B-52 … able to reach the speed of sound much faster than any startup.

In addition, the firm needs to speak to a specific instinct so scale is enabled both by digital technologies and our caveman selves. The Four tickle our need for a superbeing, for love, consumption, and procreation. Searching, connecting, consuming all feel … natural, easy.

So, who’s the fifth horseman? Each year, we try to ID who might join the medals podium of firms who personify us and whose leaders we anoint the Jesus Christ of our religion: innovation. At the beginning of 2017 we posited Netflix had become the OS for the second most important screen in our lives, the TV. It had begun to build an AI that made your viewing experience better as you viewed more. Storytelling that educates and bonds communities is key to survival, and it’s why we love Search Party. Since we labeled Netflix “the next $300B firm,” the stock has tripled in value.

In 2018 we proposed that Disney could be a viable competitor to Netflix / Amazon Video, as it could offer the mother of all video bundles, and then merchandise a Frozen doll / Disney World weekend / Disney Cruise Line experience, and move from a transactional firm, valued at a multiple of EBITDA, to a recurring-revenue business valued at a multiple of revenues. However, the acquisition of Fox assets has hit some bumps (Brian Roberts), and the latest word from the Mouse is they’re going to have several streaming properties (Hulu, ESPN+, “Disneyflix” )— dumb, just dumb. Fairly obvious that exponential growth in shareholder value stems from one type of brand architecture — a master brand. However, I’ve come to believe there Is another.

I believe Spotify could be the next horseman.

 Related: Is a Black Swan Event Awaiting the Market?