Hard to believe it's been 24 years since Y2K (2000) And it feels like we've come such a long way, but this decade started off very poorly with one of the worst pandemics the modern world has ever seen, and technology in general is looking very bleak in several ways
I'm a PC gamer, and it looks like things are stagnating massively in our space. So many gaming companies are incapable of putting out a successful AAA title because people are either too poor, don't want to play a live service AAA disaster like every single one that has been released lately, Call of Duty, battlefield, anything electronic arts or Ubisoft puts out is almost entirely a failure or undersales. So many gaming studios have been shuttered and are being shuttered, Microsoft is basically one member of an oligopoly with Sony and a couple other companies.
Hardware is stagnating. Nvidia is putting on the brakes for developing their next line of GPUs, we're not going to see huge gains in performance anymore because AMD isn't caught up yet and they have no reason to innovate. So they are just going to sell their next line of cards for $1,500 a pop for the top ones, with 10% increase in performance rather than 50 or 60% like we really need. We still don't have the capability to play games in full native 4K 144 Hertz. That's at least a decade away
Virtual reality is on the verge of collapse because meta is basically the only real player in that space, they have a monopoly with them and valve index, pico from China is on the verge of developing something incredible as well, and Apple just revealed a mixed reality headset but the price is so extraordinary that barely anyone has it so use isn't very widespread. We're again a decade away from seeing anything really substantial in terms of performance
Artificial intelligence is really, really fucking things up in general and the discussions about AI look almost as bad as the news about the latest election in the USA. It's so clowny and ridiculous and over-the-top hearing any news about AI. The latest news is that open AI is going to go from a non-profit to a for-profit company after they promised they were operating for the good of humanity and broke countless laws stealing copyrighted information, supposedly for the public good, but now they're just going to snap their fingers and morph into a for-profit company. So they can just basically steal anything they want that's copyrighted, but claim it's for the public good, and then randomly swap to a for-profit model. Doesn't make any sense and just looks like they're going to be a vessel for widespread economic poverty...
It just seems like there's a lot of bubbles that are about to burst all at the same time, like I don't see how things are going to possibly get better for a while now?
COVID also inflated a lot of tech stock massively, as everybody suddenly had to rely a lot more on it to get anything done, and the only thing you could do for entertainment was gaming, streaming movies, or industrial quantities of drugs.
Then that ended, and they all wanted to hold onto that "value".
It is a bubble, but whether it pops massively like in 2000, or just evens off to the point where everything else catches up, remains to be seen.
"The markets can remain irrational longer than you can remain solvent" are wise words for anyone thinking of shorting this kind of thing.
Shows that You are in the UK. Just want to clarify I'm talking specifically about the USA but I agree with everything you said. Tech stocks became so inflated! Don't know if people are seeing it in Europe, but here in the USA, there is this really toxic and very cringe behavior from these tech companies to get people back to office, they can force people to return to office across the country, basically you have to relocate and upend your entire life which could cost you $50,000 and they're not paying for that, if you don't do that you get fired. Easy way to start laying off people without having to pay them anything because you can call it insubordination, since they refuse to return to office. Now they supposedly have cause to get rid of people or deny them promotions for more money. IBM for example is doing this right now, Cisco was doing it as well. One of the most major networking software companies in the market. Scumbag behavior