This paper undertakes an evaluation of Resource-based Theory (RBT) to assess the extent of support, both theoretical and empirical, for IT’s contribution to sustainable competitive advantage. Specifically, the paper focuses on four MISQ papers that have utilised an RBT approach: two of these papers are empirical, one conceptual, and one a literature review of IS RBT studies. The main conclusion is that although RBT may be a useful tool for conceptualising IT factors that might lead to a sustainable competitive advantage, efforts to date have failed to support the theory empirically. This means that RBT, at least as it has been discussed in the literature so far, is not a strong weapon for rebutting people such as Carr, who argue that IT does not matter.