Rupert Denton

Are the tech boom times over?

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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?
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Krishna Kumar
Tech like all other industries and even agriculture in most countries, runs boom and bust cycles. Industries like shipping and mining are older and are more mature. They actually plan for these. Tech being newer, does not yet plan for the busy cycle. Why is it happening and who will benefit. Had written about this couple of days back on my ocassinal blog. You can check it out here https://kkumarkg.wordpress.com/2...
Alessandro Canella
Interesting! your POV is certainly revolving around the "dark side of the moon" and it is quite intimidating for a startup co-founder. For me, I think the cycle of booms and drops can never be ignored or prevented. It certainly looks a more frightening time with so many layoffs and things you have already talked about. But, whoever survives will reap the benefits of the eventual upward trends too.
Saurabh Wadhawan
smarter tech enabled solutions would be on rise IMO. Likes of GPT4 coming and enabling real life use cases will be sought after instead of AI models just being built to play 50 games in parallel. The nature of boom is changing, but it still be powered by tech in a grand way
Bryden Ellington
The tech industry is undoubtedly undergoing a shift, with signs of correction like layoffs and stock price drops. While there are still fundraising successes, it's essential to acknowledge the changing landscape and potential challenges ahead, reflecting a mix of optimism and caution among experts and observers.
Arron Francis
The tech industry indeed appears to be at a turning point, with signs of both correction and innovation. While some established giants face challenges, startups continue to secure funding, indicating a dynamic landscape with opportunities amidst uncertainties. Adaptation and genuine value creation will likely be key.
David Chapman
The tech boom of the 2010s seems to be waning, evident in layoffs, falling stock prices, and uninspiring innovation. The industry faces challenges, and skepticism about its future is growing.