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Dot ComBack, Or More Of The Same?
adamsmith_uk writes "The FT features Wall Street's renewed love affair with dotcom stocks on Monday with the latest in a $6bn string of acquisitions that has helped set light to the once-defunct online commerce sector. Could this be the signs of the tech ComBack ?" But hold onto your hopes; ekarjala writes "According to this CNet article, a recent survey by theInformation Technology Association of America indicates that IT hiring in the US is expected to remain flat or decline slightly over the course of 2003. The main drivers are lack of demand for IT products/services and outsourcing IT functions offshore."
Even if the economy starts growing faster, it'll still be a while before companies start hiring. That's usually the last thing that gets better after growth resumes. Even now there are signs that things are getting better, but there's still a hell of a lot of people without work. That sucks. I didn't work between August and December of 2001, and that was bad enough.
If tits were wings it'd be flying around.
There isn't going to be a second boom like 1999. The collapse took out all the smaller weaker companies and we're pretty much left with the survivors: Amazon, eBay, Yahoo, heck toss Microsoft, AOL, Dell, Apple in there. Now it's just time for the big companies to pick and choose what stragglers that are still left treading water (which, implies they have something worth owning) and buy 'em. We're just going to see the bigger companies get bigger. Sometime in the next century there will be another speculative boom but I'll doubt it'll be web-based. Anybody pumping net stocks today probably lost a crap load the last time 'round and is bitterly trying to make up what they lost ... or they're just dumb.
I have a friend who recently went from having a huge office full of programmers to leasing a small amount of office space at another company for him and the other principles as all of the "real" programming is now being done in Vietnam.