A thought provoking and contrarian read arguing that the tailwinds from the internet and silicon valley are fading i.e. the industry is maturing.
This chart shows that growth rates are coming down in most areas of tech.
Worth noting it was done in early 2020 so missed the pandemic driven acceleration (the unanswered question being whether that was just pull forward or a true step change).
This type of environment leads to a rebalance of growth away from start-ups towards internet-first incumbents – as the former can’t rely on the market to grow and the latter use vast operational muscle.
This has profound effects including the financialisation of the technology industry.
