Technology has dramatically impacted our communities and daily lives since the dotcom bubble burst in 2000.
Here’s a rundown of the technology revolution in the twenty-first century, from smartphones to social media to healthcare.
The dotcom bubble burst a little over 20 years ago, sending many tech companies’ stocks tumbling. Some businesses, such as Amazon, were able to quickly recoup their losses, but many others were left in ruins. Technology has evolved in many ways in the two decades after the accident.
Today, there are far more people online than there were at the turn of the millennium. In terms of broadband access, only half of all Americans had it at home in 2000.
Media and the consumption of media
How and where we consume media has changed dramatically in the last 20 years. Many tech companies in the early 2000s were still focused on improving professional communication through advanced bandwidth for video streaming and other forms of media consumption that are now commonplace.
Others followed in the footsteps of those who sought to expand their media options outside established venues. As more people went online, early tech pioneers like PlanetOut provided an outlet and alternative media source for LGBTQIA populations.
Many tech start-ups are now focusing on protecting these online media spaces while also limiting the potential for misinformation. TruePic, which focuses on photo identification, and Two Hat, which is creating facial recognition software, are two recent Tech Pioneers who have taken on this subject.
Biotech and healthcare
A biotech boom that began in the mid-1990s also came to a head in the early 2000s. Many companies concentrated their efforts on expanding biotechnologies through improved technological research.
Actelion Pharmaceuticals, a pioneer in the field of technology, was one of these companies. The single layer of cells that separates every blood vessel from the bloodstream was studied by Actelion’s scientists. Their focus, like that of many other biotech companies at the time, was on precision illness and treatment research.
While many IT companies continue to focus on disease and treatment research, others have shifted their attention to healthcare delivery. Telehealth is becoming increasingly popular, with several emerging tech companies providing virtual healthcare solutions. Individuals are receiving healthcare through new technologies like virtual visits and chatbots, especially during Covid-19.
Green technology and climate change
Many experts now believe that technological advancements will take us to a carbon-free planet. Though climate change is receiving renewed attention now, these efforts to find a solution through technology are not new. Following the recession in 2001, green technology provided a new investment opportunity for tech investors, resulting in a surge of investment in renewable energy start-ups such as Bloom Energy, a Technology Pioneer in 2010.
Tech start-ups have only increased their environmental focus over the last two decades. To mitigate the effects of climate change, many people are focusing on initiatives that go beyond clean energy.
Carbon capture technology has begun to be implemented by a number of start-ups, including Carbon Engineering and Climeworks from this year’s Technology Pioneers.