The Rot-Com Bubble
Better Offline
Cool Zone Media and iHeartPodcasts
4.6 • 688 Ratings
🗓️ 5 June 2024
⏱️ 30 minutes
🧾️ Download transcript
Summary
Tech's hyper-growth era is ending, with online 100 million new people getting online between 2022 and 2023, and almost every major web platform seeing a decline in growth since 2021. In this episode, Ed Zitron walks you through how tech's decline is driving the tech industry to try and sell you useless products like the metaverse, cryptocurrency and generative AI.
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Transcript
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| 0:00.0 | This is an IHeart podcast. |
| 0:02.5 | Guaranteed Human. |
| 0:06.6 | CallZone Media. |
| 0:09.1 | Hello and welcome to Better Offline. |
| 0:11.2 | I'm your host at Zittron. |
| 0:28.1 | In the next two episodes, I want to present you with a theory about why the tech industry has felt so weird for the last few years, and why there are so many products that have popped |
| 0:33.1 | up that don't seem to really do anything or be things that people have actually asked for. |
| 0:37.4 | And it comes down to a few simple questions. |
| 0:40.3 | Chief of them, what if the next big thing in tech is actually years or decades away? |
| 0:45.6 | What if the era of hypergrowth in tech is over? |
| 0:49.8 | And as I've mentioned before, I believe the rot economy is to blame for a lot of this. |
| 0:54.6 | It's a growth at all-cost mindset that sits at the core of pretty much everything I've written or spoken about. |
| 0:59.6 | It's this force that drives businesses to grow bigger rather than better and make products to conquer markets |
| 1:04.9 | and show growth to the public markets rather than fixing a problem that you or I might have or a business might have |
| 1:11.8 | or provide a necessary service that was nevertheless popular and profitable. And the raw economy |
| 1:17.7 | doesn't feel like any other economic period I've seen. It's not like, say, I don't know, |
| 1:21.8 | the post-2008 financial crisis or that stagnation that lingered afterwards. And what's different was there isn't |
| 1:28.2 | really a single obvious event that started the decline of the services we're using, or the companies |
| 1:33.4 | that make them. And there's not really like a Lehman Brothers crater we can point at and say, |
| 1:37.9 | there you go, that's the thing. The closest I can come is kind of FTX, which was the big |
| 1:43.4 | crypto crash, the big massive Ponzi scheme that |
| 1:46.3 | no one really saw coming other than many people who were looking behind the scenes. But other than |
... |
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