Good news, everyone: according to technology leaders surveyed by law firm DLA Piper, the economic world isn’t ending. Tech execs instead feel that the worst will be over within 24 months, and in the meantime, things won’t be as bad as they were eight years ago.
Peter Astiz, a co-head of the DLA Piper Technology Sector Practice, explained in a statement, “Two-thirds of technology executives surveyed told us that the current crisis would not be as severe as the Tech Bubble Burst of 2000. Those responses reflect an opinion that the impact of the current crisis on the technology industry is more residual than the 2000 crash.”
Peter Astiz
Furthermore, only one-fourth of respondents indicated that they’ll slash sales and marketing expenses. And given that survey responses were received between September 23rd and October 6th – a period in which the Dow dove 1,060 points – it’s not hard to believe that the respondents would feel even cheerier now. The bailout bill’s been passed and the Dow’s up 82 so far today.
No one’s saying that the situation isn’t serious, though. A full 75 percent of DLA Piper’s respondents maintained that they’d been adversely affected in some way, and almost two-thirds expected their revenues to decline.
Keep holding on tight, then, but take comfort in the fact that at least one group is forecasting a manageable predicament and a relatively quick end.
