That's not true. Even businesses that make money will die as a result of this.
We're talking about a completely catastrophic event that puts 90% of the worlds tech sector out of work. The residual effects will be enormous.
We're talking about a completely catastrophic event that puts 90% of the worlds tech sector out of work. The residual effects will be enormous.
Sure, if you're working on some messaging app there's a good chance your SOL, but that doesn't mean software's going the way of the dinosaur.
To put things in perspective: McKinsey just released a report that 50% of work can be automated and only 5% of work requires a moderate level of human creativity. There are still plenty of peon responsibilities to hand off to the robots.
A company is looking to raise a Series B. They make a lot of money. Close to $650k per month. However, they want to grow to 100 employees to tackle a new market with a new product. Without an influx of funding they just can't get there. So they try to raise a series B round. Because investors are super cold they simply aren't funding any companies (this is exactly what happened in 01). That company can't grow, they lose out, and eventually either fold or downsize.
Do you mean tech companies, or tech companies designed for fast growth at a high risk, or something else?
I don't think all companies need a significant external investment to work?
If a company is designed to have very low expenses, and is still profitable, that is a thing that can happen I think.
I mean if you want to work for a farm go ahead and do that I guess, but I think that not all tech companies need to be startups in the "receives investment from speculators" sense?
If there is some model where they need X customers and funding to get there before it is profitable, does that sound like a sound business?
It's very telling to me that you somehow equate "90% of tech jobs" with "startups"
Oh, you mean the website that doesn't actually sell anything sector. I keep forgetting that cars, radios, medical equipment, airplanes, rockets, robots etc. (all of which contain software, and are sold on websites) are no longer considered "technology".
I hope this next bubble bursting will finally kill the misnomer "tech sector" or "tech industry". Call it the website industry or telecomputer sector or something. I mean seriously, I get to work with particle accelerators and software that does Monte Carlo calculations of the way radiation moves through the human body, but that's not "tech". Those guys building hypersonic aircraft, they aren't in "tech". Doctors crafting artificial organs, that's not "high tech" at all. No, some website/app that shows ads alongside cat pictures, that's what high tech is all about.
Sadly, I think the name will probably stick until the Next Big Thing comes along, and then telecomp will stop being "high tech" just like all the other high tech industries that don't have every wannabe on the planet trying to squeeze money out of them while the getting is good.
/rant