Tech has been the darling of late exactly because it hasn't followed the general economy. In 2008, when virtually every other industry was about to sound death knells, developers were making bank producing apps. Similar story through the pandemic, when people were locked out of work during lockdowns tech was making a killing selling them things to do with their free time. Not having a good reckoning like everyone else only makes it appear more risky as time marches forward as it is assumed its day will come.

> but cloud providers are about as dissimilar from the fartapp as you can get.

I can't imagine Firebase, which is supposedly the fourth largest cloud provider according to a recent article here, is used for anything much beyond fart apps. As the fart apps die, where does that leave their business model?

Providing tooling to the gold prospectors is a good business to be in... Until people stop prospecting for gold. Firebase is Google at the end of the day, but if that division dies, that's still significant.