The finance and tech gold rushes are over. Where will people seeking wealth turn next?
The tech industry's gold rush is coming to an end as venture capital funding and IPOs decline. The industry will likely shrink, employing fewer people and offering more normal returns.
I remember the exact moment in 2007 when I knew the financial industry was headed for a reckoning. There was no data point that tipped me off, no great insight about the housing market. It was a conversation with a man who worked in finance. He had no real interest in his job and didn’t seem particularly knowledgeable or curious about financial markets; he had studied English in college. But he was making a lot of money, and he was the first person who told me about “the number."