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 oneself (opposite of selling labor) creates more opportunity for individual.
Individual (business) creates more direct value for consumer.
More value for consumer creates competition, and prices come down.