The past year has been sobering for Australia’s tech industry, as investors grew cold on the idea of spending a fortune to let companies grow without making any money. Many companies have hit the wall and thousands of people have lost their jobs in a significant industry reset that began in the middle of last year and left no one untouched this year.
The powerful in the Australian sector include the makers of next-generation technology, the people paying for it to exist, and the politicians who must ensure innovation doesn’t become dystopian.