An Unsteady Moment for Tech

We are in a strange moment for technology. Can you feel it Unbelievable change and technological wealth are moving forward with powerful powers, but there is something else mixed in: skepticism.

Some of the titans of the digital age, including Netflix and Facebook, are simultaneously ubiquitous, disrupted digital supernovae and stigmatized stars who draw attention to the evolutionary challenges of survival.

The war in Ukraine, government efforts to control rising consumer prices, and the volatile economic and social effects of the epidemic have put a stop to some digital advertising and technology purchases. Money professionals betting on the promise of young tech companies are losing some confidence.

In a sign of investor concern, half a dozen tech giants – Apple, Microsoft, Google, Amazon, Facebook and Netflix – have collectively lost બજાર 1.3 trillion in market value this year. (On Thursday, Facebook’s rising share price lagged behind its epic 2022 recession.)

The last decade has been an almost endless party for technology as we have digitized our lives. And while the coronavirus outbreak began in early 2020, including the periodic tech panic that preceded it, it seems harder than years to predict the future of tech and industry-leading companies.

Careless optimization is out and reality. It is very non-tech.

Perhaps this nervous period is only quiet and the near future will be similar to the years after 2010, during which the importance of technology increased, tech companies generated bankers dollars and tech investors sank into wealth. Or maybe we’re on top of something else – not a fall, but maybe a more sad phase for technology.

Right now, plenty of techland is still rosy. We need technology in our personal and professional lives and many of the makers of that technology are still incredibly rich. Supporters of Facebook’s parent company Meta were relieved on Wednesday when the company, which lost users by the end of 2021, reported that more people had reverted to the habit of using Facebook or the company’s messenger app. Facebook’s stock rose 15 percent on Thursday.

But many tech leaders are having trouble repeating past successes. Netflix lost customers for the first time in a decade in the first quarter of this year. Facebook predicts that its quarterly earnings may decline sooner than in 2021. That’s not partly shocking because last year was fantastic for Facebook, but the tech company’s revenue isn’t going to decline.

We’ll get more data points later today from Amazon and Apple, which will report their earnings for the first three months of 2022. Young tech companies, including stock-trading app Robinhood, have announced layoffs this week because their investors want them to hang down.

There has also been a more detailed reassessment of the belief that epidemics will turbocharge technology. With the online shopping mania of 2020, many retailers have returned to physical stores. It turns out that not everyone always wants to zoom into their dining room or ride a Piloton bike. Businesses that buy work-from-home technology in a panic in 2020 may not need it much for a while.

Twitter symbolizes this period of unstable land. Perhaps Elon Musk, who agreed to buy the company for $ 44 billion this week, will help Twitter fulfill a potential that has always seemed out of reach. Or maybe it will take the company to the ground.

And if there is a US recession, as some economic observers are considering, all bets are off. The last time there was a long-term global recession – aside from the brief recession-related US recession in early 2020 – the technology was a bit more obscure than it is today. Many successful tech companies have never lived in a time of scarcity.

In a recent conversation with an experienced tech investor who did not want to be named, he sketched out what the dark-tech phase might be like, especially for companies that sell technology to businesses.

For the past decade, businesses have been pouring money into buying technology, mostly with little financial limitations. But if there is a recession, he envisioned executives keeping a close eye on the budget and eliminating unnecessary technology. If that happens, tech companies that expect to grow faster in the long run will come up with uncivilized awareness, the investor warns.

We are not there yet. But the fact that investors are imagining nasty scenes shows a change in mood. The boom in technology is largely based on hard facts – more people are coming online, more businesses are scrambling to outperform competitors, and investors are finding few places other than tech to make good money.

But the other foundation was confident that the tech sector would continue to see uninterrupted expansion. Once that feeling subsides a bit, it’s not always easy to get it back.

  • Elon Musk is hard to pick, but he has it too Helped improve the condition of humanity, Wrote Farhad Manju for The New York Times Opinion Section. “I’m excited, for one, to see what it brings,” Farhad wrote as the next owner of Twitter.

  • More on social media: The new European rules could improve social media sites without restricting free expression, and the US could do the same, writes Francis Hojen, a former Facebook product manager who released documents on his insights about the damage it causes.

    And my colleague Brian X. Chen former President Donald J. The social media app, supported by Trump, was impressed by his experience on Truth Social.

  • Competitive typing: It’s one thing, and hobbies have found new life in online communities.

In today’s exceptional multitasking: this guy He grabbed the baseball without pushing the baby he was feeding,

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