Tech crowd takes its dose of reality and knuckles down
There will be more high-profile failures in Australia’s technology start-up sector before the market recovers its appetite for risk, but plenty of companies will emerge stronger.
For all the headlines on the pages of The Australian Financial Review in the past year about local technology companies sacking staff, pivoting strategy or going bust, it is important not to lose sight of the fact that it is still a sector filled with companies that are growing fast.
The list of companies falling by the wayside, since rising interest rates caused some investors’ wallets to snap shut from the second quarter of 2022, is starting to grow, but in reality we shouldn’t be surprised, or worried about it.
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Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy. Connect with Paul on Twitter. Email Paul at psmith@afr.com
