Big Tech is an economic powerhouse that could use a history lesson to prevent repeating past mistakes of booming industries.
This article titled “Has Big Tech got too big for its boots?” was written by Dan Gillmor, for theguardian.com on Saturday 19th October 2013 13.00 UTC
In the middle of the government shutdown crisis, Chamath Palihapitiya, a Silicon Valley venture capitalist, dismissed the impact:
If the government shuts down, nothing happens and we all move on, because it just doesn't matter.
The falsehood in that much-replayed podcast was obvious: all kinds of bad things – including what NPR called a “squeeze on science and health” – were happening. The economic toll of the 16-day shutdown was estimated at $24bn, meanwhile; and had Congress not lifted the debt ceiling, a genuine economic meltdown might well have occurred.