As we prepare to broadly release our Technology Leaders Forecast Survey on Monday, we were most intrigued by the following excerpt which captures the essence of Tom Abate’s story:
“In recent days, the firms that track corporate and government tech spending have lowered their growth forecasts in light of the global financial crisis. But they still generally expect the sector to grow a bit - and are pretty certain that tech will suffer far less from the current meltdown than from the dot-com bust.”
Coincidentally, we asked this very question in our survey: “Do you believe the current financial crisis will have a more adverse impact on the technology industry than the tech crash of 2000?” However, we received different responses to this question from technology company executives and venture capital executives which we will release in greater detail on Monday.
Industry observers quoted in the SF Chronicle story contend that tech is insulated from substantial damage because today’s turbulence is guided by the weakening housing sector, not business in the tech sector specifically, and also because a good portion of technology spending goes toward necessities, not discretionary purchases.
Relatively speaking, this is positive news for the technology industry. Analysts cited in the article gave specific forecasts for what the sector should brace for in worst-case scenarios for 2009:
Our survey of leading technology and venture capital executives examines tech’s exposure to the financial and economic uncertainties that confront the industry. Be sure to visit the blog throughout the day on Monday for a series of posts on our survey.
In the meantime, we encourage you to weigh in on how you think the economy will affect the tech sector in the coming year.
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