The Lessons That Come Out of Tech’s Boom-and-Bust Cycles
There's been a lot of noise in the tech sector lately. Debates over "fake work," sweeping rounds of layoffs, and the rollback of lavish employee perks, have all raised a single unifying question: is the golden age of American tech over? Call it a downturn or call it a market correction. Whichever way you slice it, one thing is certain, the valuations of most major tech companies were high — and now they're not. Investors have spoken and the tech industry has hit a rough patch. After over a decade where the music never seemed to stop in Silicon Valley, the last song of the night is finally playing. The thing is that the tech industry has been here before, and will likely be here again. While companies like Meta and Google have hit rough patches for sure, there's no reason not to believe that they'll bounce back. They may even be wiser for the experience, experts say. "The fundamentals are strong, maybe this is a reminder that austerity is important," said Dr. Vijay Govindarajan, a profe
The valuations of most major tech companies were high — and now they’re not. Malte Mueller/Getty Images There's been a lot of noise in the tech sector lately. Debates over "fake work," sweeping rounds of layoffs, and the rollback of lavish employee perks, have all raised a single unifying question: is the golden age of American tech over? Call it a downturn or call it a market correction. Whichever way you slice it, one thing is certain, the valuations of most major tech companies were high — and now they're not. Investors have spoken and the tech industry has hit a rough patch. After…
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