Why tech is struggling in 2024

Yep, I know it’s a slightly misleading title but there we go….
There are lots of reasons why tech seems to be struggling in 2024, from websites and services, to hardware manufacturers and here is just 1 thing, but a big thing, I’ve noticed in 2024….

Yes that thing is money, or rather, the lack of it at the moment. Yes there are profits to be made but costs are way, way higher than just a couple of years back and well those venture capitalist guys want their money back and at a higher cost too! This is exactly what happens after years of low inflation, money is easy to borrow, and the rates are low – so as soon as you have a massive spike in inflation and costs, well you gotta pay it all back somehow, and at a higher cost! The average user, well they don’t see these costs, and they look at past profits and think there is lots of money, but that’s not the whole story. Creative accounting can hide a lot of those costs, but I am seeing it now biting everywhere in tech, from higher costs all around to reduced budgets but users requiring to do more with less cash. So in a nutshell, there it is. It’s not rocket science he says, with an ironic glance across to the Musk Man…

I can’t see how this trend is going to be reversed either, the massive AI hype is just a symptom of this as AI promises to do more for less (cash included) and help people work smarter – great when budgets are being slashed. The mere fact that I know that pretty much anything creative uploaded in the last couple of years has been scraped and used to train AI is also a problem that will crop up in a few years