Tech’s reality check: How the industry lost $7.4T in one year

https://www.cnbc.com/2022/11/25/techs-reality-check-how-the-industry-lost-7point4-trillion-in-one-year.html

by mrkramer • 4 years ago

16 10 4 years ago

A boom cycle followed by a bust cycle followed by a boom cycle. Should we be surprised?

for real, I’m pretty excited for the next boom and how it actually improves people’s lives. I don’t think it’s going to be VR. Probably more useful AI than Siri. Some transit related innovation is badly needed (more Boom Supersonics, hopefully with a viable engine partner)

Tech will almost have the benefit of being powered by people working on computers and not requiring massive property or physical commodity investment which is why the booms will always follow the bursts ¯\_(ツ)_/¯

lm28469• 4 years ago

It didn't lose anything, most of these $7.4T didn't exist in the first place because the top minds of the world didn't understand covid was a very temporary outlier event. We're just back to normal after a coke overdose

BeFlatXIII• 4 years ago

$7.4T in market cap, not actual money/value.

abudabi123• 4 years ago

There are losers and there are winners. Never fail the Mark Twain test. Live to fight another day, tiger.

nine_zeros• 4 years ago

Easy come, easy go. There was nothing special about tech that led to the meteoric rise in market cap in the first place. It was all speculation with easy money.

vinyl7• 4 years ago

I don't believe a lot of the tech companies valuations are based in reality. I think it is mostly based on hype of exponential growth, when really companies are hitting a plateau in terms of value added to people's lives. It seemed like a huge opportunity for investors back when the companies were focused on growth and provided their services/products for free. But now as the companies need to adjust their focus to profitability, it turns out that a lot of companies can't be profitable unless they start charging subscriptions and filling user's feeds with advertisements, which is inevitably going to drive user engagement levels down to a more realistic level.

cyanydeez• 4 years ago

Right. Much of their valuations have to do with self filling capitalism where they reinvest themselves in the market and due to scarcity, prices go up.

This is basically what wealth inequality is doing

francisofascii• 4 years ago

Nasdaq is still up 60% percent over the past 5 years, so an alternative title could be, How the Industry gained $ X Trillion in Five Years.

renewiltord• 4 years ago

That's nothing. I lost a trillion in a few hours. Sold a molecule of turkey to my cousin for a dollar then just ate a mouthful.

Trillions of dollars turned into poop in seconds! Horrific crimes. And I'm going to get away with it hahahahaha

Tech’s reality check: How the industry lost $7.4T in one year

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