The past 15 years has seen a massive rise in consumer tech. FAANG (Facebook, Amazon, Apple, Netflix, Google) companies differ from previous tech leaders because their main users are consumers, not businesses. But the tide is turning against their model, on almost all fronts all at once.
People are starting to wonder if big consumer tech is:
People are starting to wonder if big consumer tech is:
- Good for investors? FAANG stocks are dropping. Too many well known start ups (Uber, Netflix, Snap) are still losing money after many years.
- Good for users? People are asking about their psychological impact, the loss of privacy, and the fast-and-loose exploitation of personal data.
- Good for society? Fake news, the spread of hate, and the undermining of democracy. And they suck investment away from solving real problems, into providing services that only the tech elite really want.
- Good for employees? The management techniques pioneered by Silicon Valley startups are coming under scrutiny like never before. Lack of diversity, high pressure, low benefits. They expect fanatical loyalty from their people, but give very little commitment in return.
Over the next year or so we'll see books that plug into this change climbing the charts. An early indication is Bad Blood winning Business Book of the Year. Dan Lyons' Lab Rats, Joe Toscano's Automating Humanity, and Basecamp's It Doesn't Have to Be Crazy At Work take different perspectives on the same story. The Silicon Valley model isn't great... but perhaps there's another way.
If you have a killer book idea that plays into this trend, why not contact me on davidb@packt.com? Packt Expert Network exists to provide a platform to discuss these important issues in tech.