A year ago, four Silicon Valley high tech luminaries shared their outlook in an interview with Judith Dobrzynski.
Novell then-Chairman, Google then-Chairman and now-CEO Eric Schmidt had this to say:
Things may actually be worse than we’re saying. You had this enormous overbuild that occurred in telecommunications, which was largely vendor-financed. You have all of the issues around PC market saturation in certain key markets. … And the value proposition isn’t necessarily there for the whole solution ˜ the next “killer app” has not yet evolved.
On top of that you had the Internet, which is the world’s biggest opportunity to hype something because everyone could see that it was transformative. So you have this enormous overbuilding, which will take a fairly long time to overcome. It’s overbuilding at the software level, at the systems level, at the infrastructure level, at the fiber optic level. Meanwhile, the technology continues to get better. I think the slowdown could be quite a bit longer than all of us would like it to be.