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Six Effects the Wall Street Meltdown Will Have on the Tech Industry

Source: Mashable!

Sep 19, 2008

Summary

Economics may not be the favorite subject of most techies, but it is an important one. Especially after the up-and-down series of events that have transpired in the markets this week. Two of the last four independent investment banks are gone. The world’s largest insurer is now a government entity. The stock market has simultaneously suffered its largest one-day loss and its largest one-day gain in the last six years. Not even the tech industry is immune to the insanity that has occurred this week. Here are just a few of the effects the Wall Street meltdown will have on the tech industry:

1) A loss of large technology buyers

Businessweek’s Heather Green outlines it simply enough. Some of the biggest spenders of technology are financial institutions. Blackberries, servers, software. They will all take a hit without Lehman and Merrill Lynch buying technology and the possible acquisitions of

Washington Mutual and Morgan Stanley. With the financial firms consolidating and shrinking, there will simply be less buyers available for software, computers, web servi

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