"tech industry" by itself is meaningless. That's like having a "things made of plastic" industry.
Near the end he talks about the 2000 kablooey with his anecdote of a very focused "Enterprise B2B-focused Tech Crapping Itself" event, which makes sense when all your Big Business Tech Things just broke the stock market for five years.
The big failures don't impact all the tiny startups now because tiny startups are, by definition, tiny. A single blade of grass does not fear the wind. But, some tech startups are bamboo and become big really fast and then fall over (sometimes not fast enough in the case of zynga and groupon). The bigness came from a seed not long ago, so it didn't have time to get ingrained into society to have any detrimental impact when itself kerplodes.
Ergo, QED, ad infinitum: the current tech failures aren't a symptom of people doubting the future of technology, digital things, and their impact on society, but rather just people manipulating the system for personal gains as fast as possible then flaming out. As long as those cases stay isolated, we're fine. When hundreds of companies collude to do it all at once, we collapse for another five years (unless you're banking, then you collapse for 18 months, regain all your power, and leave the world struggling worse than before).
Information technology has its unique attributes. One of them is it's about information, which means technology in this regard could live in almost everywhere as long as information is one related element.
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[ 4.0 ms ] story [ 26.2 ms ] threadNear the end he talks about the 2000 kablooey with his anecdote of a very focused "Enterprise B2B-focused Tech Crapping Itself" event, which makes sense when all your Big Business Tech Things just broke the stock market for five years.
The big failures don't impact all the tiny startups now because tiny startups are, by definition, tiny. A single blade of grass does not fear the wind. But, some tech startups are bamboo and become big really fast and then fall over (sometimes not fast enough in the case of zynga and groupon). The bigness came from a seed not long ago, so it didn't have time to get ingrained into society to have any detrimental impact when itself kerplodes.
Ergo, QED, ad infinitum: the current tech failures aren't a symptom of people doubting the future of technology, digital things, and their impact on society, but rather just people manipulating the system for personal gains as fast as possible then flaming out. As long as those cases stay isolated, we're fine. When hundreds of companies collude to do it all at once, we collapse for another five years (unless you're banking, then you collapse for 18 months, regain all your power, and leave the world struggling worse than before).