As we’ve said, the technology sector is in some real trouble because of its partnership (in many instances) with the NSA.
Tech is probably the most important industry in the USA. And we export a lot of technology. However, overseas customers (and domestic ones too) are having second thoughts about buying from companies which have worked closely with US spy agencies. Orders are dropping around the world.
Now a new front may be opening for Silicon Valley, a legal one.
(From The Testosterone Pit)
What’s rising for US tech companies like a pile of fuming manure? The costs of working hand-in-glove with the NSA to build the most formidable, seamless, borderless, indiscriminate spy dragnet imaginable. For years, they’ve cashed in on this work, feeding frenetically at the big trough of the government. Revelations bandied about in the media with torturous regularity confirm that they’ve succeeded.
But the world is not a static place. Reactions have been swift – and very costly for our already revenue-challenged corporate tech heroes. Sales have suddenly plunged in the most promising high-growth countries like China and Russia, and share values have dropped because of it. But now there is a new cost to add to the pile, an all-American cost, the redistribution of wealth from corporations to lawyers: class-action lawsuits.