29 October 2022

EXPLANATORY JOURNALISM: Peter Kafka reports on the collision of media and technology

". . .We’ve been watching this play out for most of the year as tech stocks dropped, but it came into focus this week when Alphabet, Meta, and Amazon all saw their shares get hammered and the sector collectively lost $400 billion in value.

All of the tech guys have different reasons to worry investors, but I’d argue that all of them have the same underlying problem: They’re mature companies that are no longer going to impress Wall Street with crazy growth from their core businesses, and none of them look like they have any new giant businesses coming down the pike. Alphabet, for instance, just posted revenue growth of 6 percent — its weakest quarter in a decade. . ."

The Big Tech boom is over and Wall Street knows it 




Meta and the rest aren’t going away, but now they’re big boring companies. Maybe that’s not a terrible thing.

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