What is good about tech bubbles

This article is part of the On Tech newsletter. You can do this Register here Getting it on weekdays.

Let’s talk about what is common for Britain’s bicycle bubble more than a century ago Ineffective token, Technology start-up And Electric vehicle companies.

We have been in a technology gold rush for over 10 years that in some corners makes absolutely no sense. If and when Paradise disappears, people may lose their fortune. But collectively, the Tech Manis bring something good. As my colleague Erin Griffith Said: “Bubbles, while messy, getting ahead

I talked recently William quinn, A lecturer at Queen’s University Belfast and co-author of “boom and bust, “A History of the Financial Bubbles a Decade Ago, Including the 1929 Stock Market Crash and the Financial Crisis.”

This book identifies three basic conditions present in the bubble: it is cheaper to borrow money or people have a lot of money left. Buying and selling property becomes easy, like what’s happening right now With stock trading apps including Robinhood. And there is a mindset that property prices can only go up.

All of those situations, as Griffith recently wrote in a Hilarious and useful articles, Still exist. This is why we are seeing frequent spikes “Mem” Stock Like Promotions about GameStop NXT, And IP-I-popping, including the one that left AirBnB’s chief executive being silenced.

But Quinn also told me that technology-related bubbles are different in important respects to other boom-and-bust cycles. For one, they Don’t waste the world. “I am not worried about NXT for the next financial crisis or any such reason,” he said.

Unlike housing market bubbles, technology bubbles are not typically inflated with borrowed money that can cause cascading effects. Speculative techniques are also often somewhat disconnected from the rest of the economy.

And, Quinn said, when technical bubbles burst, they can leave something positive. Add bicycle bubble.

Invented “Safety” bicycle A revelation took place in the late 1800s, and the original design lives on today. We may not think of bicycle as a technology, but it was an important innovation for relatively reliable and inexpensive transportation.

It also kicked off a frenzy of British bicycle manufacturers who went public, stock prices rose and then fell. Those who left, says Quinn, were people and companies who, in some cases, introduced new innovations in cars, motorcycles, and road tires. Some bicycle precursors are still around.

Like a bicycle bubble, good things happened in the United States in the late 1990s in the wake of the dot-com bubble. Companies including Amazon survived and thrived. Bankrupt telecommunications companies left behind cheap and useful Internet pipelines that enabled an online explosion.

More recently, the collapse of a cryptocurrency many years ago made more people curious about the benefits of promising underlying technology, Such as blockchain.

Griffith said, “The bubble can distract mania, but he said:” The attitude of many people in technology and finance is that mania or mania inspires attention, enthusiasm, enthusiasm and talent to try something new. “

I do not want to ignore the loss of the take bust. When bubbles burst, people lose their jobs and, in some cases, all their savings. Quinn said he believes regulators should do more to deceive people and prevent them from running with millions. Griffith said he is concerned that those who break up on Take Faas may be embarrassed.

Quinn said he believed that bubbles, which were relatively rare between the 1920s and 1980s, are now becoming more frequent. Money and information travel quickly around the world, which helps fuel. Bubbles can be a fixture of modern life – all the potential pitfalls and benefits that come with them.


Tip of the week

Prepare as more of us When will it be safe to flyNew York Times Consumer Technology Columnist Brian x. Chain Tells us how to save airfare with your favorite ticket price prediction app.

If you’re like me and desperate to leave somewhereThis can be a great time to start hunting for travel deals – even if you don’t plan to travel until winter because … epidemic.

There are nifty apps that use algorithms to predict when the airfare will dip. I have made some notable deals, saving hundreds of dollars on flights to Hawaii, New York and Taiwan. These algorithms may be slightly less reliable during such an unpredictable year, but it is still worth examining them.

My favorite app for saving on flights is Hopper. Free app on Ios And Android Allows people to register for price-cautious tracking that recommends buy an airplane ticket now or wait for prices to drop for their destination. (The hopper also tracks hotel and car rental prices, although I have not used those facilities.)

Here’s how to use the hopper app:

  • Choose your preferred travel dates. The hopper will show you a color-coded calendar, with green dates showing the least expensive days to fly and red for the highest prices. You can choose to see ticket prices for nonstop flights only.

  • Sit back and wait for advice: Once you have selected travel days, Hopper will send notifications to suggest whether to buy a ticket now or wait for the price to drop. I look at the hopper flight alerts and then buy tickets directly through the airline.

(Be aware that when a large number of flights were canceled during the epidemic, the hopper was overwhelmed. Complaints From people who had booked tickets through the app and had trouble getting help.]


  • Pushback against Amazon’s enthusiasm for control: company Need to reduce labor costs and increase productivity, Which is why Amazon measures every moment of an activist’s existence, wrote my colleague David Streetfeld. Pushback against Amazon’s desire for control, visible in rest of warehouse workers, congressional oversight, Labor regulatory attention And tweets about bathroom breakdown.

  • App filters can be a real-life social experiment on girls: MIT Technology Review The investigation Risks of the app “eradicate” people’s appearance by erasing defects, changing eye color, and re-recalling the face and body. Some of these filters may be fickle and helpful, but some researchers and teens worry that it is skewing the self-image of women and girls.

  • When Facebook is the local news channel: Beaver County, Pa. And around that is a Facebook group dedicated to local information, helping to spread news about the pits, closing businesses and shopping. But nbc news wrote The police have also had to intervene to remove the exaggeration and lies in the group, including false rumors about a killer who terrifies people and binds the authorities.

La Verne Ford is an 82-year-old woman in Wimberly, Tulsa, Ocala Wearing her Sunday every week for virtual church service. Her selfie on Facebook of her colorful attire (including hat) has made her a star.


we want to hear from you. Tell us what you think about this newspaper and what you want us to find out. You can reach us ontech@nytimes.com

If you do not already receive this newsletter in your inbox, Please sign up here.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *