Word: teche
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Dates: during 1990-1999
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...specialized. The old economy was geared to mass production, mass marketing and mass media: cookie-cutter products spewed from assembly lines in central factories; entertainment and ideas were broadcast from big studios and publishers. Now products can be individualized. Need steel that's tailored for your needs? Some high-tech mini-mill will provide it. Prefer opinions different from those on this page? A thousand Webzines and personalized news products are waiting to connect with...
Driving all this is the microchip. The high-tech industry, which accounted for less than 10% of America's growth in 1990, accounts for 30% today. Every week a Silicon Valley company goes public. It's an industry that pays good wages and makes both skilled and unskilled workers more efficient. Its products cost less each year and help reduce the prices in other industries. That, along with the global competition that computers and networks facilitate, helps keep inflation down...
...other worries. The Federal Trade Commission launched a second probe of Intel this fall. Though the firm has escaped with a clean bill of health in the past, its dominant market share may look like a fat bull's-eye to trustbusters. Intel's close relationship with Microsoft--tech insiders refer to a WinTel duopoly--does seem to make competition more difficult. Grove, for one, isn't slowing any plans because of the government. "We're very careful," he says, "and clean...
...Andy Grove is so smart and technology companies so hot, why are Intel and just about every other tech stock falling off a cliff? Wasn't it only four months ago that our Man of the Year's company proudly sported a $100 stock? Now it's at about $70. Click on that, new-era geeks. The stock market may be chaotic and irrational from day to day, but over longer periods it's a pretty fair measuring stick for what's coming. The message here is that no boom lasts forever, and the one that Grove and tech...
...fact, you haven't seen anything yet. Companies like Intel, Microsoft, Compaq, Cisco Systems and Oracle have plenty more cyber stuff on their drawing boards. What's in question is how much of it they will sell, how soon and at what price. One obvious problem is Asia. Tech companies were doing a lot of business there before the region's economies imploded. Intel, for example, has been getting 28% of its annual revenue there and will surely feel a sting from the slowdown...