It's worth looking at the current macro climate through the lens of what is different, not what is the same. It remains to be seen if we land a meaningful revolution this time: lord knows it ain't the blockchain, but will it be AI? The other difference is as you point out, we're raising rates into this recession not lowering them. The intent right now is to slow growth and destroy demand making this an inherently more challenging time start.
As they say, don't fight the Fed.
There's still ample tech innovation happening right now.
In 2008 the iPhone was already out and the App Store was launched that year, but arguably the smartphone didn't become a significant economic factor until around 2012. All the other services paulpauper cited as playing a role in the post 2008 recovery had been out for years, some of them almost a decade, but they just hit critical mass where they became economically impactful around then.
Green tech is the main exception, it's solidly into the steep phase of the adoption curve and has received a massive boots in investment in the last 12 months as a result of the Inflation Reduction Act*, plus the Ukraine war and the pivot away from Russian hydrocarbons.
* Gotta love US bill names. You just know the "Cute kittens appreciation act" is going to cull and stuff all the cute kittens.
> It remains to be seen if we land a meaningful revolution this time: lord knows it ain't the blockchain, but will it be AI?
Facebook’s ML models contribute massively to their profitability.
I wouldn't be surprised to see a crop of start-ups focused around that space.
2023 feels a little like the start of the start with shades of 2008.