This is going to be a follow up from yesterday saying that tech is not overpriced or overvalued.
We are living in a time where technology touches everything we own. We hold a computer that has more power than the shuttle that took the astronauts to the moon, by 1000 fold.
All of our devices are attached to the internet in some way shape or form. Banal minutiae like toasters, your refrigerator, hell I’m sure they make a trash can that has an app at this point.
We’ve gotten to the point where the technology attached to random objects is just expected at this point. Think back to 2000, if your toilet was internet capable, it would have made the cover of Time magazine.
Yet, it is expected at this point to have these high end features on every product. To the point where, if they don’t, they haven’t a leg to stand on.
My thesis is this, when something becomes common and expected, it goes under appreciated. Kids these days do not remember the time when the technology was not there. All this tech requires these tech companies who command “overpriced” valuations to run and survive. They don’t exist without infrastructure. Infrastructure that has improved and cheapened over the long term.
Either way, the point that I’m trying to make is tech is here to stay. There isn’t going to be a massive tech exodus any time soon. Or, stop worrying and learn to love the bomb.