Hey Joseph, great article. It's fascinating how the tech industry weathered through those tough times and bounced back. Looking forward to more insightful reads from Apricitas Economics.
The tech industry has always been decoupled from the broader economy. Only during the recent ZIRP period has there been an appearance of synchronization.
They do, but at much lower quantities (much easier to watch or read the news working from a computer at home than when working at a restaurant or hospital) and are worth much, much less as customers to advertisers than high-income people, so the bias tends to be towards upper-income white-collar concerns.
I'm pretty sure you've got CA and US as the wrong colors in this chart: https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fdb8053b3-c861-4701-ade9-8e5a77d71889_2886x1843.png
Ah, good catch—just fixed it on the online version!
Hey Joseph, great article. It's fascinating how the tech industry weathered through those tough times and bounced back. Looking forward to more insightful reads from Apricitas Economics.
Thanks Adam! I'm glad you enjoyed
The tech industry has always been decoupled from the broader economy. Only during the recent ZIRP period has there been an appearance of synchronization.
I see that the Telecom sector has done a dramatic slowdown, maybe due to interest rates going up.
What is the effect of interest rates on the tech sector overall?
>>Given that media consumers are disproportionately upper-income white-collar workers
Why is that? I mean, others don't consume media?
They do, but at much lower quantities (much easier to watch or read the news working from a computer at home than when working at a restaurant or hospital) and are worth much, much less as customers to advertisers than high-income people, so the bias tends to be towards upper-income white-collar concerns.
It makes sense, thanks for explaining.