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The outlook is encouraging, according to corporate technology buyers and industry analysts. There will surely be belt-tightening, and cuts may be sharp in some industries, especially the financial sector. Overall growth in technology spending may fall from 7 percent last year to 4 percent or less this year, according to estimates by IDC, a research firm.
For example, one company in which I serve as president has arguably the best .com platform for its industry (around 100 billion), a COO who was a respected Senior VP for a very well known name in travel, a built out infrastructure, proprietary backend software, a logical business model and an exit strategy.
The company is looking for around $2 million in funding and I'm told I'm doing most all the right things to attract money, but yet, not yet.
Tech is one of the limited ways one can compete and make serous money (I am talking about millions and billions). Most non-tech niches are taken by old money that understand non-tech, and will be vigorously fighting any serious competitor. They already have their monopolies, big fences around their business, their lobbyists, even their own laws. But OLD MONEY DOESN'T UNDERSTAND TECH.
That is why tech will not shut down, because there are younger entrepreneurs with large sums of money who see opportunities.