Economist Podcasts Competitive spirit: tech after the pandemic
Oct 28, 2021
Ludwig Siegeler, US technology editor for The Economist, and Tim Judah, Balkans correspondent, dive into the tech industry's post-pandemic evolution. They discuss how major firms are facing downturns as smaller companies thrive. On the geopolitical front, Judah highlights Serbia's military buildup, stirring tensions in the Balkans. The conversation takes a fascinating turn with the rapid evolution of tuskless elephants in Mozambique, illustrating how human conflict can accelerate natural selection.
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Big Tech Slowdown
- Big tech's earnings growth slowed from 90% last quarter to around 30% this quarter.
- This slowdown reflects changes brought by the pandemic, such as shifts in advertising and Apple's privacy policy.
Tier Two Tech Growth
- Smaller tech firms, or "tier two tech," are outpacing the big five in market cap growth.
- Their combined market cap has increased its proportion relative to the big five from 22% to 31%.
Cloud Computing's Impact
- The pandemic accelerated the shift to cloud computing, benefiting both large and smaller tech companies.
- This shift created a larger digital market, giving smaller firms space to grow.