Business Today

Recessions are The Mothers of IT Invention

The next five years will prove decisive in our industry, as massive change produced by the Covid-19 recession will drive renewed double-digit growth for certain firms and send others to irrelevance. This dynamic has occurred during the three prior recessions, and early indicators are this downturn will be the most consequential by far.

When I started my career in the late 1980s, one could not overstate the dominance of IBM and Digital Equipment Corporation (DEC). IBM accounted for a staggering 6 per cent of the cumulative value of the S&P 500. And the press would gush over the ascent of DEC, with

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