Yeah, I’m still waiting for a piece detailing exactly this. The perfect storm of free money and the mainstreaming of the smartphone created a climate in Silicon Valley where profitability & sustainability were an afterthought AT BEST. It enabled a LARP for people in the top 5% pay brackets that they were crusaders for good: working to “c…
Yeah, I’m still waiting for a piece detailing exactly this. The perfect storm of free money and the mainstreaming of the smartphone created a climate in Silicon Valley where profitability & sustainability were an afterthought AT BEST. It enabled a LARP for people in the top 5% pay brackets that they were crusaders for good: working to “change the world” instead of for “profits”. It was always a lie, but it definitely made it an easier & more noble lie to tell themselves.
Now that the free money is gone for good, and the novelty of the smartphone has worn off, reality is going to crash in like the Kool Aid Man.
Yeah, I’m still waiting for a piece detailing exactly this. The perfect storm of free money and the mainstreaming of the smartphone created a climate in Silicon Valley where profitability & sustainability were an afterthought AT BEST. It enabled a LARP for people in the top 5% pay brackets that they were crusaders for good: working to “change the world” instead of for “profits”. It was always a lie, but it definitely made it an easier & more noble lie to tell themselves.
Now that the free money is gone for good, and the novelty of the smartphone has worn off, reality is going to crash in like the Kool Aid Man.
Some good descriptions in here of the basic economic problems the tech corporate model is starting to face
(author is bearish twitter for subjective reasons I don't necessarily agree with)
https://www.bloomberg.com/news/newsletters/2022-11-15/the-easy-money-era-is-over-and-the-crypto-bubble-with-it