Tech companies don't exist in a bubble; they draw from and feed into a larger community. Ideally, the relationship is symbiotic.
Sentiment: POSITIVE
The tech community is a closely knit group, which is why it's so powerful. All of these companies have an affinity for each other, even if they compete with each other.
I definitely think what drives technology companies is the people; because in a technology company it's always about what are you going to do next.
I don't think objectively we are in a tech bubble when tech stocks are at a 30 year low.
Big companies are looking closer term, and even the most technological companies spend less than 1% of sales on research. Startups have suffered the burst bubble.
Virtually every real breakthrough in technology had a bubble which burst, left a lot of people broke who'd invested in it, but also left the infrastructure for this next golden age, effectively.
Tech companies tend to do tech best.
Tech is important, but if you look at even the successful tech start-ups, you see they employ only dozens of people at most. Tech is never going to have the impact on the job market that manufacturing has.
An awful lot of successful technology companies ended up being in a slightly different market than they started out in.
If companies don't think systemically enough - if they try to capture too much of the value - eventually, innovation moves somewhere else.
Tech stocks are trading at a 30-year-low when compared to the multiples of industrials (companies). It's the weirdest bubble when everyone hates everything.
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