Economics

Technical Fads And Those Who Benefits

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Guess which tech fad I’m talking about?  Doesn’t matter.  I’ve been in IT nearly 30 years as of this writing and not much has changed, it just goes faster while the ephemera of it all becomes more obvious.

Every industry, community, etc. has its fads. Thats normal, humans love new stuff, humans are social, and humans innovate.  A seemingly trite fad today could be the foundation of great future potential.  It could also vanish, but that’s just life.

In tech fads – hell, most fads – one of the issues is money.  Fads can make you money especially if you jump on them, create them, support them, or exploit them and tech lets you do it fast.  Tech has been wildly successful the last few decades and has lots of money, attracts money, and attracts people who want to make money.

Past a certain point, the money starts to matter so much the reason for the fad – sometimes good reasons – doesn’t matter.  At that point I find you end up with really two populations jumping on fads.

People with money:  You got money, you can make money – and when others are making money, you want to run up the score or have more power than them.  You can invest in many fads and hope one pays off.  Of course this distorts the actual value of whatever new ideas are out there as you can take over a market (leading to enshittification) or just keep it going long enough to cash out.

People looking for a quick score:  Jumping on fads in tech – and elsewhere – can be profitable or can seem to be.  Everyone’s ready to try and make a quick buck and fads promise a lot of opportunity.

So everyone jumps on a fad, someone gets rich, and the fad either fades, breaks, or actually becomes something solid.  Then the next fad starts and here we go again.


Thing is, two results tend to come out of this when there’s lots of money to be made.  First, some people make a lot of money, and some people get hosed and lose out.  That distorts the next fad when it’s involves a lot of money (like we see in tech, film, etc.)

First, the people who made a lot of money can jump on, take advantage of, or start the next fad easier.  They have money, they can now multiply it again!

Second, the people who didn’t make a quick score or didn’t get in on it get more desperate for the next fad.  Why miss out?  Why not try to make back what you lost?  Why can’t you be like the people who won last time?

So the next fad is more funded – and more desperate.

Where does this go?  Honestly I think this happens in many areas, not just tech, but it’s all so intertwined maybe that doesn’t matter much.  But one thing it’s not to judge by environmental pressures and economic issues is sustainable.  Winners win more, losers get more desperate, and more and more fads don’t make anything.

I suspect at some point you either see the fractures above rapidly shatter systems, and probably causing that or around that time, there’s one big fad everyone bets on.  For that one, few to no one wins and a lot of people lose.

Just staying that with our environmental problems, that could be geohacking (which I support to an extent).  Chew that one over.

Steven Savage

Wondering What Won’t Be Here

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As of late, I’ve started wondering what technologies we’re used to are just going to go away. That’s also a great way to close out the end of the year.

Of course technologies always fall by the wayside. Some don’t work, some get replaced, some get improved, some aren’t practical. There’s a lot created in human history that’s not in widespread use in Western society. Technologies going away is normal (as is reviving them, but that’s another story).

I wonder as of late how many technologies we’ve created are a mix of unsustainable and actually just useless. How many will just go away or could because there’s no reason to keep them or we can’t.

Mostly I’m thinking about “computer stuff,” because that’s what I’ve worked on almost all of my career. I just feel like the last decade or so things have gotten faintly ridiculous.

  • Embedding computers and wireless into everything. I’m missing simple electro-mechanical solutions, cable connections, and of course I wonder about security issues. Plus how sustainable is “microchips everywhere.”
  • So-called “AI” which is really just large language models and or algorithms. There’s a ton of hype around it, while it consumes resources and creates all sorts of legal and information issues. AI hype also eclipses really good tools for things like image analysis and searching that aren’t as sensational.
  • The ads in everything. Yes, we can put ads in everything, but it feels like it’s gotten overdone. Also how much web technology has grown around serving damn ads.
  • Social media. I think we’ve started to see people rethinking how it’s used – let alone the social, security, and technical issues. Also it seems everyone keeps trying to undermine everyone else. Oh, and ads.
  • Streaming. Maybe I’m old but I’m starting to miss cable.
  • Graphic cards. Do I need the latest particle effects when some games run on the CPU? Also, this stuff is getting used for crypto.

And so on.

I’ve been wondering if what we see in technology is basically a lot of people made money, so they can “make” things succeed by investing their word and considerable money into it. Others already had a lot of money so they can try to “make” a market. Combined together I wonder how much of our technological world is just propped up by money, hype, and newness.

And I wonder how much of that is going to be around because what’s the value proposition. Streaming is nice and all, but it’s hard to keep track of everything and it gets pricey. Computer everything doesn’t seem sustainable between costs and the fact it seems we’re well on the way to see refrigerators infected with malware. How much of the technology out there is needed versus just hyped, and we race to get ahead? How oversaturated are markets?

Also can any of this survive our various crises in the world? I mean stuff is kinda shaky right now.

I don’t know. But I have the gut feeling that there’s changes coming as some things can’t be sustained or that no one wants them, needs them, or can pay for them.

Steven Savage

Hidden Dependencies

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(This column is posted at www.StevenSavage.com and Steve’s Tumblr.  Find out more at my newsletter.)

As we slog through the pandemic in America, as I see things change, it makes me realize the hidden dependencies in the economy.

Let’s talk commutes.

Sure, we supposedly hate commutes. An hour this way, an hour that, catching trains, and so on isn’t fun. Sure we try to maximize our time while we read books or see friends after work, but it’s not enjoyable.

But as we work from home, we’re changing the economy. We also know that won’t be temporary for many of us as the benefits outweigh the costs, meaning these changes are permanent.

But what could go wrong? This is good right, where we can avoid using cars and timeshift, and so on? Sure it, is, but it’s going to have quite the impact.

I first became aware of how I didn’t see the impact of more work from home when someone joked about audiobooks. They wondered if there were less sales of them as people weren’t commuting as much. Sure it was funny . . . until you thought about it.

Then I had to wonder.

Next, I saw people in the Bay Area being worried about work from home becoming more permanent. Why, I wondered, would they worry about that? Wasn’t this better?

Then you realize how much of the economy relies on us to be going into work elsewhere than our homes. The people renting office space. The restaurants near our offices. All the services that are involved from construction to janitorial services.

How much of our economy depends on a commute?

Soon I was thinking about other things affected by commutes. Audo services and public transport. Taxis and office supply companies. So many businesses get money if not outright depend on commuters.

We’ve temporarily rearranged a surprising large chunk of the economy, which would be radical even without the Pandemic. But it happened, and it’s going to be for awhile, and for some of us it’s permanent. If we don’t want it to be more devastating than it is, we need to seriously assess business, cities, commutes, and more – as a country and as cities and as communities.

This was a humbling realization and one that I am still processing. This change, this shift, was right under my nose and I missed it. For all of us trying to figure careers and economics and the like it’s important to remember the filters we have in place.

What else are we missing?

Steven Savage