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We founded a software startup in 1999. And I've worked as fractional CTO recently. My impression, we have not utilized productivity due to cloud, better tools, better SaaS (Hubspot, Linkedin, Pipedrive, Google Analytics etc.).

To me it looks like all productivity gains have been eaten up by something. I feel Scrum is very undproductive, this might be one explanation for development, but marketing etc.?

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My guess is developer productivity slumped with the move to the modern web stack.

Things I managed to deliver in my first year of the first startup with Django + Ajax/Vuejs were a number of multiyear multiteam developments in my second startup (scaleup) that had dozens of microservices and Angular SPA.

I'm only seeing comparable productivity on the backend these days when teams are using AWS native services.

I'll second that, see https://www.radicalsimpli.city/ ;-)

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