Below is a chart and excerpt from today's Early Look written by Technology analyst Ami Joesph.
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A decade of gradually rising investment in digital transformation ensued (due to the readiness of Moore’s Law, not due to the exhortations of opinionistas like me) and the sector benefited with revenue acceleration and rising valuations. Soon, a sector that was mostly buried in the back office and part offshored to cheaper locations after the last bubble, one that shied from limelight and cloaked itself in abstruse acronyms and dusty jokes, became sexy. Young entrepreneurs made big bucks. VCs flooded the playing field. Hedge Funds climbed over the public to private wall and got in on the action, inflating valuations. Everyone was having fun. By 2021 I caught myself out loud wondering, why do so many people care about the architecture of automation? It was a topping signal. People cared because it was sexy, and there was money to be made. |
