Well, as another "OG", I'll give you a contrary opinion.
Yes, absolutely, business cycles come and go. But I think there is a really large shift in the overall "technology mindset", and this is something that does feel very new.
I would say that from at least the 70s (just using that because it's my birth decade) up until the mid 2010s or so, pretty much everyone viewed technology as the main driver for societal progress. Sure, there were definitely scary parts of technology (leaded gas, nuclear weapons), but people still felt overall that improvements in technology would lead to improvements in people's lives.
I'm not so sure that optimism exists anymore, nor do I necessarily think it should. I see so much of the tech industry not focused on how to improve people's lives with technology, but on things like how can we addict people to dopamine spikes, or how can we insert ourselves as an intermediary that vacuums up all the profit due to many technologies' natural tendency toward monopoly. I see technology as the primary cause of what I consider the slowly increasing societal disintegration that is happening across many countries.
Even with technology like AI which I think has a huge potential to aid humanity, my greater fear is that it will just lead to much greater concentration of wealth and power and the expense of everyone else.
For sure, part of my pessimism probably comes from the timeline of my career, which started during the extreme optimism of the 90s, when we all thought that the Internet was going to democratize societies even more and that it was going to "bring us all together". When you feel like the opposite happened, it can be tough to come to terms with that.
post-WW2 optimism that is now dying off with the last of the Greatest Generation and their kids, the Boomers.
by the 1970s the post-WW2 boom was over and the 80s were full of doom and gloom -- and then tech exploded and there was all this new growth. but now capitalism did what it does and we're back to the 80s again, this time with China instead of Japan.
As someone who remembers the 80s quite well, I think it's a giant mistake to just say this is some kind of cyclical, "Oh, it's like the 80s again" moment.
While I don't want to delve too much into politics, I think the situation at the moment in the US is without precedent at least since the Civil War. And the tech situation is far, far different. I know a lot of people seem to think that folks who point out societal concerns with tech are "Luddites", and love to give (IMO very poor) analogies like "it's just like buggy whip manufacturers!", but I think we're at a point where tech, either now or very shortly in the future, will start to kill off more jobs than it creates (and, if you think about it, in some sense that is actually the point of many technologies), and modern society is far from figuring out how to function if most people can't make a living by selling their labor.
Again, I totally agree that on one hand there are standard business cycle forces at play, but there are other longer term forces that have been building steam for decades, and I think it's a mistake to confuse these two things.
