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Stop calling them tech companies: GenAI and SaaS — are they really tech? It’s time to call a spade a spade. (sifted.eu)

submitted 2 days ago* (last edited 2 days ago) by Tea@programming.dev to c/technology@lemmy.world

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When I started angel investing in the late 1990s, a tech investment included a significant technology risk, with the potential upside being groundbreaking innovation. Being an investor at this time meant taking a considerable technology risk and betting on actual tech, such as nanotech, semiconductors or biotech.

E-commerce, albeit hyped and interesting, was not considered tech. It was “Business 2.0”, plain and straightforward, hype included.

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[–] ryathal@sh.itjust.works 6 points 1 day ago

All companies are tech companies, those that aren't will be replaced by those that are. It's been a common theme for a decade. I don't really care that some venture capitalists lost their easy button to decide where to throw money for massive returns. Investing is supposed to require diligence.