Contraction Across All Industries
It isn’t just technology that is contracting.
Obviously Fed rate hikes impact this…but it isn’t just THAT.
Ubiquitous computing means everyone can start a business.
Anyone starting a business means employees don’t want / don’t have to ‘work’ for someone.
Working for one-self (opposite of selling labor) create more opportunity for individual.
Individual (business) creates more direct value for consumer.
More value for consumer creates competition, and prices come down.