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Nick Abrahams

South by Southwest signalled problems for tech sector

Nick AbrahamsContributor

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Last week's South by Southwest was one of the biggest tech events in the world, boasting 75,000 delegates and 5000 speakers. Attendees heard from IT company execs, Talking Heads' David Byrne, Handmaid's Tale actor Elisabeth Moss, as well as six 2020 US presidential candidates, including Starbucks CEO, Howard Schultz. Gwyneth Paltrow was even there talking up her online jade egg and face cream business Goop.

All the big tech companies invade Austin, Texas and spend millions renovating restaurants and bars into "experience spaces" giving away merch and free drinks in the hope of accessing SXSW's "influencers". This event is a pilgrimage for the mostly Millennial crowd. It is Burning Man for tech nerds.

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Nick Abrahams is the global co-leader of the digital transformation practice at Norton Rose Fulbright. He also hosts the popular Web3: From Mystery to Mainstreet podcast, about businesses embracing crypto, NFTs and the metaverse.

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    Original URL: https://www.afr.com/technology/south-by-southwest-showed-headwinds-for-tech-sector-20190315-h1cftk