Techpoint: Technology-Gloom and Boom

At the end of the 90s, the dotcom bubble burst. With the real estate bubble bursting in the first decade of the 21st century along with recession in 2008 out of which we seem to be just coming out, the world economy has taken another hit these last few months as we noticed that the artificial bubble of news driven we are fine and out of recession crumbling all over again. This is making the technology-driven developing economies jerky and worry-ridden as everyone is now worried about a repeat of the 90s tech bubble burst in the midst of an economy already in recession.

To top it all up, we have had a scam-ridden economy that runs into several crores, crusades against corruption, etc. In addition, there is a new movement against technology claiming that it is because of technology that humans are losing touch with their inner selves, becoming indifferent to problems around them, leading unhealthy lives with lifestyles that lead to more stress and fad health solutions, etc. Summing it all up, we have become more alienated from each other and also from the very technology we use to keep us connected. While there is considerable truth in the various accusations, it is important not to get stressed by all this gloom and doom stuff predicted by experts and see if there is a long term way out of this mess we find ourselves in.

Before we look for solutions, let us examine the problem and understand them.

• Indians dont Innovate or Invent: The general opinion among most people on a global level is that Indians dont innovate or invent anymore. Sure, they have a rich history of innovation and discovery thousands of years ago and they still rely on it to boost their self-confidence. While the Chinese and Japanese continuously innovate in Asia, the Indians just follow suit and cannot come up with a single original idea. Some linguist experts have attributed this failure in innovation to the inability to think in their own language as we have to learn engineering and perform it in a language other than our mother tongue. While one doesnt know how far this claim is true, it is interesting that they have connected ideas to language and hence the failure to invent. These linguists claim that it is extremely tough to come up with a new idea or ideas when one is studying and absorbing information in a language other than our mother tongue. They attribute this as the primary reason for innovations in ancient India and failure to invent today. However other linguists rubbish the claim and attribute the lack of new ideas and invention to the herd mentality among most techies of today or the do as others do, so they will think well of you mentality and lack of self-confidence in expressing new ideas.
• Lack of Technical Entrepreneurs: Middle class India which comprises the bulk of Indian techies lacks the entrepreneur spirit. While they may have the vision to create a world class product or company, the fear instilled by the middle class mentality of job security triumphs over their dream of making it truly big in their field. So, there are many inventors and new ideas brewing among Indian techies or those with technical inclination, it never sees the light of day because there are very few technical entrepreneurs in middle class India as opposed to other countries. Indians have a money security complex that they would rather put their ideas and money in the safe haven of a bank term deposit that earns them a very low interest rate or in gold rather than risk making their dreams and ideas a reality. Even if they are fired, they would only seek another job and not think of starting a
  
  new company.
• Indian Techies are Easily Satisfied: Give the Indian techie a six-figure salary and they are satisfied for life. Some studies suggest that Indians make the most loyal employees, but it would be almost impossible to make them employers. Sure there might be a Sabeer Bhatia here and there but even they would be willing to sell their company for a price rather than try to improve it or make it bigger.
• Myth of Stress: Indian techies are into all sort of alternative therapies to relieve stress as if stress didnt exist before. They are also willing to spend lots of money to follow a spiritual guru or get into one of these therapy clubs while completely ignoring those who are suffering from stressthe social poorwho are unemployed or suddenly find themselves without a livelihood due to a disaster or an accident and forced to support their children or dependents by living hand to mouth or working in a temporary job. Techies however consider themselves to be the
  
  most stressed!

The Way Forward

• Start Up or Start Over: Can you make money when stocks are falling and global economy is in recession? No, if you do things or stay the way you have been doing as before. However this is the best time for start-ups or if you are an already employed techie with the cushy but unhappy jobit is time to start over.
• Create: It is important to create new applications and new technology to serve social needs that can have a global implicationenvironmental cleanliness, agricultural crop monitoring, awareness about medicineseffects, side effects, etc, in the market, etc. In the next 20 years, our biggest markets will be Asia, Africa, South America, and space. Whoever manages to get to these markets first will win and
  
  win big.



• Be Optimistic: Do not let the global gloom get to you. Remember life and economies are like sine curves. Moving forward what falls must always rise, so remain optimistic. If you are unemployed, try to become an entrepreneur and if you are employed, find out how you can rise in the organization by becoming indispensable to them.
• Stress Buster: Get in touch with friends and talk to your families about it. Remember those who are less fortunate than you and if possible help them. It is a great stress buster instead of spending copious amounts of money on new-age therapies.
• Invest in Friendlies: Friendlies are also known as friends and families. Invest in a family member or a friends company`25,0001,00,000 to keep it going. Remember if the Rajendrans hadnt invested in Infosys during the early 90s, they wont be millionaires now. That NR Narayanamurthy forcefully convinced them to buy shares is a different thing but if you know a person is hardworking, honest, and has a sound business plan, invest by buying shares of the company of your friend or a family member. This way you would also be fuelling new ideas and new companiesa must for growth.

Dream and dream big. Dont dream to work for Infosys, Audi, Sony, Microsoft, or IBM. Dream on beating them as competitors and winning. Take a cue from our movie industry which has been doing so for the past 100 years and successfully beating the competition and also winning over audiences from abroad.