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How would do you define "high tech"? You might think of Silicon Valleyknow it when you see it - it's Apple's iPhone 6S, your phone or laptop, a new medical device -- but overallAmazon Prime's 1 hour product delivery, it's hard to pin down a concrete definition. grid with blinking lights and beeping buttons - but what IS high tech? Taken one step further, how would you define a "high tech firm"? In other words, what are the characteristics of companies like Amazon and Apple that we can generalize to form a universal definition of a "high tech firm"?

The One of the best definitions of this vague "high tech" comes from the [http://www.kauffman.org/~/media/kauffman_org/research%20reports%20and%20covers/2014/02/declining_business_dynamism_in_us_high_tech_sector.pdf Kauffman Institute] , which defines a high-tech industry by the presence of four factors: a high proportion of scientists, engineers, and technicians; a high proportion of R&D employment; production of high-tech products, as specified on a Census Bureau list of advanced-technology products; and the use of high-tech production methods, including intense use of high-tech capital goods and services in the production process.