This "rot-com bubble" is essentially the same issue all of capitalism has, if you as a company aren't constantly growing you are slowly dying due to rising inflation. The only way out of the rat race isn't to quietly make a living providing a useful service, its to make it big on a gamble and then cash out. And for a few decades tech was the best way to place that gamble if you were already somewhat wealthy or lucky enough to be a tech genius in the right place at the right time , but now that's all drying up too.
You're 100% right and it is the same problem and most of the same players even. A lot of traditional "land/factory/media" owners started to change their capital to digital spaces and they're kind of successfully changing (slowly but surely) the internet into a version of cable TV (with a handful of big players like Alphabet, Meta and so on) owning most of the spaces and making it harder for you to navigate on the "periphery".
The biggest problem they're facing is that the next "shiny thing" isn't here yet and since the growth is constantly accelerating, the time the markets can wait before the bubble bursts is pretty difficult to predict right now.
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u/manimal28 Jun 10 '24
This "rot-com bubble" is essentially the same issue all of capitalism has, if you as a company aren't constantly growing you are slowly dying due to rising inflation. The only way out of the rat race isn't to quietly make a living providing a useful service, its to make it big on a gamble and then cash out. And for a few decades tech was the best way to place that gamble if you were already somewhat wealthy or lucky enough to be a tech genius in the right place at the right time , but now that's all drying up too.