Tech Fail Forecast: Bursting The Next Bubble - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
IT Leadership // Digital Business
News
12/28/2015
07:06 AM
Jim Nash
Jim Nash
Slideshows

Tech Fail Forecast: Bursting The Next Bubble

Fifteen years after the dot-com bubble burst, industry pundits are calling out similar signs of froth in the current tech boom. Here are nine tech ideas, products, excesses, and business models that we expect to look back on in 15 years and ask: "What were we thinking?"
2 of 10

The Term 'Unicorn'
This fanciful term always sounded odd coming out of a hyper-competitive and profit-driven industry like venture capital. The VC industry's pejorative nickname is 'vulture capitalism' for a reason. And a lot of investors are likely to find that their own unicorn was all too imaginary. For the record: The word 'unicorn' in this context was coined by Aileen Lee, founder of the VC firm Cowboy Ventures, in a November 2013 blog post on TechCrunch.  Back then, Lee counted only 39 such creatures.
(Image: Domenico Zampieri via Wikimedia Commons)

The Term 'Unicorn'

This fanciful term always sounded odd coming out of a hyper-competitive and profit-driven industry like venture capital. The VC industry's pejorative nickname is "vulture capitalism" for a reason. And a lot of investors are likely to find that their own unicorn was all too imaginary. For the record: The word "unicorn" in this context was coined by Aileen Lee, founder of the VC firm Cowboy Ventures, in a November 2013 blog post on TechCrunch. Back then, Lee counted only 39 such creatures.

(Image: Domenico Zampieri via Wikimedia Commons)

2 of 10
Comment  | 
Print  | 
Comments
Newest First  |  Oldest First  |  Threaded View
MichaelOFaolain
100%
0%
MichaelOFaolain,
User Rank: Moderator
12/29/2015 | 2:19:07 PM
Tech Fail Forecast: The Foolishness
When the next bubble bursts, what you have described is just the foolishness that inflates the bubble.

Humans need tangible products for survival - food, clothing, and shelter - plus medical care. Whoever controls those essentials are in position to disrupt the behavior of the rest of us.

If I were an economist I would be using some of that big data to explore the potential impact of having food and clothing production substantially controlled by people in other countries, delivered by a "last minute" supply chain that is easily disrupted.

With every economic cycle comes the nouveau riche with foolish behaviors. With every economic cycle comes the ignorant young who think their ideas are so special they are not subject to the failure side of capitalism.

An adjustment is always required to teach the foolish that the "ordinary" people - not the "geniuses" - must be able to flourish for a new economic trend to have long term meaning.

So far as I can tell, Dan Price, CEO of Gravity Payments, is the only executive to acknowledge publicly that the "big economic picture" is complicated by trendy, extremely narrow aggregation of wealth.

But if you look at the Wikipedia entry "List of recessions in the United States" you realize that what is coming is a normal part of "The American Way" - a failure to understand the importance of "Truth and Justice" to real superheroes.
Slideshows
10 Ways to Transition Traditional IT Talent to Cloud Talent
Lisa Morgan, Freelance Writer,  11/23/2020
News
Top 10 Data and Analytics Trends for 2021
Jessica Davis, Senior Editor, Enterprise Apps,  11/13/2020
Commentary
Can Low Code Measure Up to Tomorrow's Programming Demands?
Joao-Pierre S. Ruth, Senior Writer,  11/16/2020
White Papers
Register for InformationWeek Newsletters
Video
Current Issue
Why Chatbots Are So Popular Right Now
In this IT Trend Report, you will learn more about why chatbots are gaining traction within businesses, particularly while a pandemic is impacting the world.
Slideshows
Flash Poll