In the early 2010s… the tech business was much smaller. Back then, people used desktops more than mobile devices.

In the early 2010s… the tech business was much smaller. Back then, people used desktops more than mobile devices. Business school students preferred to work at banks. And Google’s market cap was less than $200 billion. Hoodies, not suits, ran the industry.

As the economic opportunity in tech grew though, things changed. Bankers and finance professionals, looking to reinvent themselves after the financial crisis, found the tech sector. They became CEOs and COOs as the developers stood back.

[T]he tech sector, or at least parts of it, then trended into overfinancialization. Instead of thinking about what problems they could solve for people, some companies looked only at growth and margins. They became extractive. DoorDash, for instance, counted tips toward its minimum delivery worker payments, changing the policy only after an uproar.

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