What Tech People Should Learn From This Era of Excess

Tech people love to talk about their “learnings” (presumably because they think that term sounds more innovative than “lessons.”) And tech folks sure have learned a lot of learnings this past week, particularly about assessing future growth and being more careful with how they spend money. That applies both to venture investors, a few of whom appear to have blown nearly $2 billion on Sam Bankman-Fried’s failing empire, FTX, and big tech companies such as Meta Platforms that are now retrenching after a period of overindulgence in hiring.