“ The problem with tech today isn’t so much that software failed to eat the world, but that the most celebrated unicorns weren’t actually software companies. They have struggled to achieve liftoff because their feet are stuck in the mud of the physical world”

This sums it up nicely.

Investors got deluded enough to think that if they threw enough money at a non-software company it would magically start making software company levels of profits.

Hopefully the real economy won’t be affected too much when this bubble finally bursts.