Did We Learn Nothing From the Dot-Com Bust?
This promises to be a year of confusion in the tech globe. Less than 2 weeks in, and we're already mired in this scrap flaw madness, while the connected ascent in Bitcoin and other crypto-currencies is concerning. What's a sure affair? Driverless cars? Quantum calculating? Nobody knows.
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I could go down the list, but I'm feeling a little déjà vu. In the belatedly 90s, those who questioned a stupid thought or trend were immediately told they did non "get it." Nosotros were in a "new economy" where everything had changed, afterwards all.
What didn't alter was an economical plummet when reality set in. Having dogfood shipped to your house by Pets.com was not viable as a business concern model. Information technology folded.
How is that unlike from what Amazon is doing today with Amazon Prime? You lot join Amazon Prime for $99 a year and become all sorts of free benefits including video streaming of movies and free two-day shipping of everything imaginable. Only creative accounting makes it work. Hello 1999. I won't even bother with the Webvan parallels.
So in that location is the mania over driverless cars. According to one observer at CES, if you weren't there with some driverless automobile technology, you might as well have stood in the corner.
Driverless cars will merely work in a law-breaking-free, vandal-gratis earth. Don't kid yourself, these devices have decades to become. It's not because of the car tech. It's because computers are still stupid and can easily exist fooled when placed in the real world to navigate and interact on their own.
Onward to the near dubious of all technologies: quantum computing. Nobody can ever explain it in a fashion that doesn't brand you draw dorsum your head and flash a sour look on your face up. I have listened to the theoretical angles about this so-chosen engineering science and, afterwards, felt I was just in a game of three-card monte.
I spent a long time talking to one of the near knowledgeable reporters who has covered the technology from the offset and he withal doesn't know what to make of it and whether the inventors are sincere, deluded, or just total of it. Information technology's incommunicable to tell. Yet, Intel and others are jumping on board "just in case."
Perhaps the virtually astonishing hoax ever perpetrated since Piltdown man is Bitcoin, all the other cryptocurrencies, and the blockchain hoo-hah.
Nosotros were all fools not to buy it when i bitcoin was 50 cents. That much I will concur on. But would nosotros be holding on forever? Who knows? For years I accept equated Bitcoin with the Beanie Babies phenomenon; its collapse foretold the dot-com plummet. At to the lowest degree a Beanie Baby had an intrinsic worth, that of a modest plaything for kids. Bitcoin has removed annihilation intrinsic. All it has is perceived value. You cannot play with a Bitcoin, you lot cannot melt them down, you cannot use them as a toy or art. They are magic dust.
But mention this to a Bitcoin fanatic, and I'thou told I "don't get it." Hello, 1999.
I've heard there is a Bitcoin vending machine someplace, just I cannot imagine what a hassle information technology would exist to use. Information technology'south nuts. But through the mechanism of mass hysteria, they are worth a fortune and going higher in value.
How long tin can this go on? If the scene has locked on to the late 1990's groove of insanity, it's possible that we are in an analog of 1998 and tin can perhaps brand it through the year without a collapse. Just looking at the start of the year, I doubt it. Fume, meet mirror.
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Nigh John C. Dvorak
Source: https://sea.pcmag.com/opinion/19110/did-we-learn-nothing-from-the-dot-com-bust
Posted by: moynihangrately.blogspot.com
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