Most of the blame of the credit crunch can be placed at the feet of sub-prime lenders and greedy bankers, but as we can see in an article in BusinessWeek we consumers may have a share as well. We embraced credit in its many forms and took on enormous amounts of debt; all so we could buy houses, cars, and tech to name a few.
Now as things become tight, we begin by buying less gadgets and the tech industry is beginning to feel the loss. Not to worry, things will balance out, the industry will be fine, and we will buy again. Maybe in preparation of those days, there have been a lot of telepresence communications commercials on TV recently. Talk about bad timing.
The equipment in the commercials is impressive: usually two or three huge flat-screens in fancy boardrooms – in large corporations or a national chain of upscale hotels – but talk about expensive. If tech spending is going down, where will that leave normal, medium to small businesses?
As a savvy business person, you most likely know about video conferencing already. Yes, it would be great to have floor-to-ceiling, perfect mimicry of realism in the conference room, but at what cost? Video conferencing can be good and functional with a fifty dollar webcam. You can look someone in the eye or smile with them. You can get things done without having to go there.
All in all, tech spending may go down while the economy adjusts and tech industries may feel a sting, but for the normal business, it’s business as usual.