When you reflect and look at how much changes in a year, it’s quite shocking. People get married, have kids, get divorced, get new jobs, and start businesses. This growth isn’t only personal, but also economic and social. You may have grown a lot over a year, but that doesn’t mean it’s always in the right direction. Unfortunately, however, this past year, several tech companies lost a staggering amount of money.
Out of the 15 most valuable tech companies in America, not one of them generated positive returns from 2021 to 2022. It was a high-strange year, to say the least. We took a look at how the tech industry lost $7.4 trillion this year. We’re going to dump the true, harsh facts onto you, so find out why 2022 has been such a brutal year for tech companies here.
The Big Names Are Struggling Mightily
Believe it or not, Meta plunged 66% this year and Apple stock is down 16%. It’s been a brutally tough year for these major tech companies, and by looking at the stats, we can see why. This downfall also includes major companies like Tesla, Microsoft, and Netflix, which fell as much as 45% in 2022.
Not only that, but the world’s 400 wealthiest people are poorer this year than they were last year. These tech billionaires were soaring on top of the world only a year ago, but after the plummet, they collectively lost $500 billion. One year can make a huge difference, and with these stats, we can see how. It was a brutal year for a lot of people and that includes crypto with the crypto dream turning into a nightmare.