Cheer up, the subprime crisis is good for tech
Ah, the subprime-mortgage crisis. Don't you love it when bad news is so good? Sure, the prolonged quasi-epileptic seizure of the credit markets has driven consumer confidence to its lowest point in two years, with 2 million borrowers behind on their mortgage payments. But why let that get you down? Especially when things are going so well in tech. Take enterprise search firm Autonomy as your model. They're gloating like Google.
When announcing increased profits and revenues, Autonomy chief executive Mike Lynch had this to say about the crisis facing middle-class borrowers:
It's likely to be the case that there will be lots of litigation in the U.S. around subprime and we have already seen a number of large financial institutions who have turned to us to help them.
Always a silver lining!
