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Ignoring the appeal to nature, the tech industry has been extremely volatile for several decades. We're in the middle of a dot-com bust equivalent for the enti

• mindslight 6y ago
  The volatility is due to that cheap financial sector money, making nonsensical bets until the music stops. Big picture, we were definitely due to a correction. VCs were paying to litter the landscape with electric scooters, hoping to create some kind of recurring income stream from people renting inexpensive consumer goods. Slowing down is never beneficial to the individuals getting laid off, which is why these destructive policies enjoy broad support. If 90% of the work is required, and everybody is still expected to work the same full time, then 10% of people are left without chairs. Focusing on the first condition is the path to make-work. Focusing on the second condition is what we need to do instead.
  • three_seagrass 6y ago
    This is bordering on a no-true scotsman. See, the true tech industry doesn't have problems, that whole dot-com bust was because of the financial industry. Nevermind that the two are intertwined and that claiming one is provincial alone is misleading.
    • mindslight 6y ago
      It's a valid distinction. The decades-long many orders-orders-of-magnitude drop in the price of computing hasn't been responsible for investment money periodically drying up, but it has put a 90's era supercomputer into everyone's pocket.