doingthehustle profile picture
doingthehustle profile picture

doingthehustle

Most Recently Account Director

Good Citizen
Personal Narrative
Contributor
+2

Has the tech industry lost its throne?

The Nasdaq Composite is underperforming to the S&P 500. (both are tanking but Nasdaq is -16.32% to S&P500 -6.23% on a 1 year comparison based on 5/23 data) Amazon is dumping warehouse space, Meta is on a hiring freeze, Netflix is in a RIF and Y Combinator published letter to startups to plan for the worst and you better be a default alive.

https://www.google.com/finance/quote/.IXIC:INDEXNASDAQ?comparison=INDEXSP%3A.INX&window=1Y Nasdaq Composite Price, Real-time Quote & News - Google Finance Get the latest Nasdaq Composite (.IXIC) value, historical performance, charts, and other financial information to help you make more informed trading and investment decisions.

Has tech industry lost its throne?

Attached poll
*Voting in this poll no longer yields commission.
☁️ Software Tech
🦾 Hardware Tech
🔥 Revenue
22

27 comments

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TennisandSales
Politicker
13
Head Of Sales
no. 

Things cant just go up and to the right forever. 
There HAS to be some sort of correction in the market. 
This should be expected, and you should expect that tech comes back in the future. 

besides, if tech has lots its throne....who owns it now? 
Sunbunny31
Politicker
4
Sr Sales Executive 🐰
I agree.  Necessary corrections happen to get rid of bloat.   And, like you, I don't see anything else emerging to challenge for the throne.
TennisandSales
Politicker
4
Head Of Sales
yep. because there isnt anything. 

we are in the digital age. nothing will be more important then tech. 
the next big wave of anything will be some sort of tech. 

SADNESSLieutenant
Politicker
1
Officer of ♥️
I swear some people have negative iq
unclespacejam
Politicker
0
ur dad’s brother
But munny always go up right?
TheColdestColdCall
Executive
1
Enterprise Account Executive
To be fair - if does always go to the right. Just not always up.
TennisandSales
Politicker
0
Head Of Sales
haha fair point!
NotCreativeEnough
Big Shot
5
Professional Day Ruiner
the market will rise and fall. People who are panicking and start taking extreme measures are the ones who compound the issue and make it worse/last longer. 

Stocks are on sale right now. Now is the best time to buy for the greatest return. 
SADNESSLieutenant
Politicker
2
Officer of ♥️
2000 iq
CuriousFox
WR Officer
2
🦊
No. We are good. 
0PercentCloseRate
Politicker
2
Oh boy
Alright I fell for your clickbait poll, congrats.

Industry 4.0 is just getting started so this gravy train is going to roll for years babyyyyyyyyyy
doingthehustle
Good Citizen
0
Most Recently Account Director
As sales people we are on the front line of our companies and I am
 genuinely curious what the bell ringers are experiencing. It's great to see the majority think it's temporary and still great opportunities ahead! 
AchillesOfAdTech
Valued Contributor
2
Account Director
Let me share with you a little quote from Wikipedia: "Bill Hewlett and David Packard graduated with degrees in electrical engineering from Stanford University in 1935. The company started in a garage in Palo Alto during a fellowship they had with past professor Frederick Terman at Stanford during the Great Depression, who they considered a mentor in forming the company.[10] In 1938, Packard and Hewlett began part-time work in a rented garage with an initial capital investment of US$538, equivalent to $10,357 in 2021. In 1939, Hewlett and Packard decided to formalize their partnership. They tossed a coin to decide whether the company they founded would be called Hewlett-Packard (HP) or Packard-Hewlett.[11] HP was incorporated on August 18, 1947, and went public on November 6, 1957" ( https://en.wikipedia.org/wiki/Hewlett-Packard).

The tech industry has been going strong for almost 100 years. People have always claimed "Ope! The tech bubble is finally popping!" What do you think people were saying during the dot-com crash? 

The top tech firms change, sure. But computers & software are becoming more important to the world, not less. 

Soon, every company will be a "tech" company, if they're not already. 

However, we've witnessed a frenzy / largesse post-08 with INSANE multiples / valuations. There will be a correction + consolidation.

Don't quit your day job. Save for a rainy day. But tech ain't goin nowhere pal. 

Just my 2cents. Free advice is free.  Take it for what it be worth. 
doingthehustle
Good Citizen
1
Most Recently Account Director
Great frame of reference and reminder of the Dotcom bubble. I’d take it one step further and say software and computers are running our world and have become essential. Consider cars, the industry has been impacted massively by the chip allocations because even cars are run by software and circuit boards.

Appreciate the post! Very thoughtful. Thank you 🤓👏🏾

SADNESSLieutenant
Politicker
1
Officer of ♥️
Life is a series of waves and ebbs.
jefe
Arsonist
1
🍁
Was about to post 'Ebbs and flows'

Such is the way of everything
SADNESSLieutenant
Politicker
1
Officer of ♥️
that's what I meant to say, thanks for the assist
jefe
Arsonist
0
🍁
Np, would've been surprised if no one else had the same thought.

I'm just real good with words ;)
braintank
Politicker
1
Enterprise Account Executive
Just culling the herd. The strong will survive and thrive. Don't forget that AMZN stock dropped 90% during dot com crash.
champchamp
Arsonist
1
Certified Savage
Agree with the people below and would like to elaborate a bit. 



Market corrections are happening, investors were just throwing millions at everything tech related.

I've seen shit companies with shit ideas and shit founders get millions in funding, the market is now wiping them out.

Tech will continue to be king for years to come. 
Gasty
Notable Contributor
1
War Room Community Manager
That's the same argument as "AI will eat up jobs".
Justatitle
Big Shot
0
Account Executive
It’s literally impossible to continuously rise when it comes to sales and revenue growth. There will be periods of downturn and corrections. However software has very low upkeep costs and the customer can typically justify its cost rather easily so it’s going to remain king until something better (illegal narcotics) can take its place
TimeKillsDeals
Good Citizen
0
Lead Account Executive
No.
RunDownTheStairs
Opinionated
0
Enterprise Account Executive
"Be fearful when others are greedy, and greedy when others are fearful.”
finboi
Notorious Answer
0
Fi-nance
Tech/ growthy companies will always be have more volatility than established “value” businesses. It’s just the price you pay
MrCoffee
Good Citizen
0
VP of Sales
No doubt Tech has and will continue to have the thrown, but I’m thinking it’s going to get worse before it gets better. Not all bad news for us though - for every 1 person you know slaying it for the past 2 years, there’s 10 at “unicorns” slammed into 1 state patches with 5 other reps b/c fk it grow at all costs! amirite?!
kobelover24
Good Citizen
0
SDR (Sales Development Rep)
revisiting this post, we can't be eating as good as we did in 2021 without some repercussions. Tech will still be on throne, this is normal.
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