Are the tech boom times over?
Interesting piece by a writer I enjoy reading: https://www.theterminal.info/i/8... Some choice quotes: "I think it’s pretty clear by now the software-led tech boom of the 2010s is pretty much over. The combination of pandemic stimulus and tech-enabled remote work kept things ebbing along a few years longer than they perhaps would have otherwise, but the party’s over. There are the mass layoffs — helpfully tracked here — plunging stock prices and missed revenue guidance, but all of those can be blamed on a generally flagging economy. The rest of it is in the vibes." "You don’t have to look far for those vibes. Elon Musk ascending to the throne of Twitter atop a pile of middle manager skulls. Mark Zuckerberg pumping the spoils of a decade of social media dominance into brute forcing the existence of a parallel universe nobody wants to spend any time in. Legions of platform businesses collapsing on their own rickety scaffolding. The form and function of the smartphone growing stagnant, such that it is no longer really possible to discern the difference between iPhone models. The slushy cultural output of a legion of streaming services chasing what few potential subscribers remain. Elizabeth Holmes going to jail." What do people think? Personally I think there is a significant correction occurring and the easy money spigot, is obviously given what is happening in the global economy, has turned off. At the same time I still hear about significant fundraising success for startups. I am definitely a skeptic and a bit of a doom guy so I'm interested in other takes and thoughts?