I get what you are saying about incentives. You can’t really lay the blame for mass movements of people at the feet of individuals.
I think that the biggest contributing factor was (1) Google’s successful execution of an ad based revenue model for the internet and (2) the launch of smart phones, and (3) MBA-ization of the valley - a shift in culture and mindset from R&D to operations.
We all saw something similar in the 90s. It self corrected during the recession. While the recession wasn’t great, the early part of the recovery circa 2004 was amazing. I hate to root for anyone to lose their jobs. I would rather companies relocate people.
The next boom will most likely come in crypto / blockchain after the price of Bitcoin crashes and the hucksters and hype die out. Biotech after that.
I think that the biggest contributing factor was (1) Google’s successful execution of an ad based revenue model for the internet and (2) the launch of smart phones, and (3) MBA-ization of the valley - a shift in culture and mindset from R&D to operations.
We all saw something similar in the 90s. It self corrected during the recession. While the recession wasn’t great, the early part of the recovery circa 2004 was amazing. I hate to root for anyone to lose their jobs. I would rather companies relocate people.
The next boom will most likely come in crypto / blockchain after the price of Bitcoin crashes and the hucksters and hype die out. Biotech after that.