People consistently ask the same question pertaining to technology– is it in a bubble? The idea that technology is in a very vulnerable and isolated state has been bouncing around Silicon Valley for the better part of the past five years. We use Silicon Valley as the universal reference point for progressions in technology simply because it has been the primary location of some of the most innovative movements in recent history. Having said that, is it possible that that Silicon Valley and the concepts that have evolved from this particular spot in the US are being looked at with too high of a price tag?
Many critics of the Silicon Valley train of hyperbolic praise reference the surge in social media usage as part of the reason why the tech boom that has resulted in Facebook, SnapChat, LinkedIn and many others won’t last. Overall investing with large sums of capital that cannot be fortified nor matched through overall growth and profit is directly associated to overblown egos that have become synonymous with successful entrepreneurs.
With this in mind, the finances that flood tech start-ups on a routine basis have resulted in an immensely productive process for any and all directly associated with the development of modern technology. Because of this, the money does not stop flowing, thus resulting in a longer span of ‘developmental booms’ so to speak– an idea that seems to benefit everyone involved.
Let’s rewind for a bit and go back to the 2008 financial crisis. The economy was turmoil and the US was sporting a dismal 7.4% rate of unemployment. Silicon Valley was a massive contributor in lowering this percentage by putting money back into renewable sources of energy and similar investments that would yield long term profit and provide prosperous opportunities for Americans nationwide– not just in California. This was undeniably a great thing for the US economy as a whole; and a decision made by powerful tech tycoons that everyone was grateful of. Having said that, to deny the resurgence of a recession that would be prolific enough that even a powerhouse like Silicon Valley would be unable to prevent is a very real possibility. And once people are able to realize that even the most powerful individuals/businesses in the world are limited in capability of changing the course of an entire nation’s economy they will turn a blind eye on the fact that Silicon Valley was a massive aid already in the United State’s recent economic history. A sign that the world of progressive technology is not above the scorn and resentment that can come from the masses when the masses are unable to be helped.
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