Big Tech Will Get Back to Real Tech in 2023

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What to expect in 2023: The tech bubble has finally burst. The proliferation of Big Tech during the pandemic has caused overemployment and overestimation among tech startups. This leads to a sharp correction towards the end of 2022 when the reality is in the coming year. Expect tech companies to tone down embarrassing generosity. New advantages and focus — I’m looking at you, Meta Platforms Inc. — on traditional trusted business models like advertising and cloud computing. Venture capitalists who helped fuel the industry’s latest trends will once again prioritize pure technology businesses. They think enterprise software and cybersecurity replace food and telemedicine delivery. or more practical Higher profits than capital intensive and competitive businesses

Elon Musk’s furious Twitter streak may inspire other social media bosses to revisit their old arguments about being a “tech company” first and foremost. and tempts them to focus on developing artificial intelligence and engineering rather than policy work. That was a mistake. This is because two important new laws from the European Union are coming (1) that will define how those companies should moderate the content and information on their websites. and how they interact with competitors. A high-tech field might not be gaining much traction: the metaverse.

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Software companies will try to make money from AI, a machine learning system that can write essays and create images and videos. The models that support those systems are making some big advances in 2022. This year, companies like OpenAI, one of the leaders in the production of generative AI, will have to answer the difficult question of how they prevent their systems from generating new features. How is it dealing with humans or disseminating misinformation on a large scale? Apple Inc. has lagged behind in developing its own AI and will likely have to buy a generative AI company.

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Being a woman in the Metaverse is awkward: meeting people in virtual worlds is fun but messier than Mark Zuckerberg’s vision.

Facebook should have reached its peak: the social network’s first drop in daily users marks a pivotal moment, while Zuckerberg’s bizarre leap into the metaverse. It’s hard to see the company return to growth.

On the internet, no one knows you’re a kid – yet: lawmakers are pushing tech companies to build a safer web for kids. But their proposal wouldn’t have done much without rigorous standards for age verification that no one would agree on.

Wordle, BeReal, and even Facebook: Apps Less Addictive: The growth of apps that prioritize connection over social media obsession. You only need to watch BeReal once a day.

Facebook, Beware: Metaverse Is Flat: Most people are visiting virtual worlds through a simple screen on Roblox and Fortnite. Mark Zuckerberg needs to make his metaverse less reliant on VR glasses so millions can access it.

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Creative AI is making a mess: Native AI capable of writing blog posts and generating images is the hot new trend in tech. But it will come with tricky legal challenges.

Musk’s Twitter won’t die. Look at Telegram: Telegram is a bigger social network run by a liberal billionaire. Its popularity should override the idea that Twitter will disappear.

(1) Digital Services and Digital Market Act

This column does not necessarily reflect the opinions of the editorial board or of Bloomberg LPs and owners.

Parmy Olson is a Bloomberg Opinion columnist on technology. A former Wall Street Journal and Forbes reporter, she is the author of “We Are Anonymous.”

More stories like this are available on Bloomberg.com/opinion

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