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Boosted by soatok@furry.engineer ("Soatok Dreamseeker"):
twipped@twipped.social ("Jocelynephiliac :reclaimer:") wrote:

This is a very interesting perspective on the tech collapse. Yes, high interest rates and the loss of tax writeoffs for R&D have contributed a lot, but the biggest abandon may just be because there's not a large need. Thats why tech pivoted so hard into trying to find applications for LLMs and machine learning, there wasn't anything else to show growth in.

https://news.ycombinator.com/item?id=47759588

A lot of tech job growth during the late 2010 and pandemic period were frankly BS for a ROI perspective. Late 2010s was really the first time in tech that I started to feel like most of the stuff that needed to be built was built, and increasingly I was working on BS projects offering less and less value every year. Consider: - In the 80s developers were needed to write fundamental business software for word processing and spreadsheets - In the 90s computers became mainstream and there was a huge demand for consumer software - In the 00s the internet took off and we needed people build the web - In the 10s the smart phone revolutionised computing and we needed people to build apps and rebuild websites to be mobile-first But towards the late 10s entrepreneurs and investors seemingly ran out of no-brainer tech investments so increasingly started trying mental stuff still promising tech-like returns – block-chain, metaverse, Web 3.0, [insert traditional industry here] but a tech company.