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technology reporter James Purtill

Failing banks and mass layoffs: Is the 15-year tech boom finally over? What went wrong?

Google Silicon Valley Margaret OMara David Karpf Meta Australia Canva Alphabet Amazon Apple

Google announced in January it would lay off 12,000 employees worldwide. (Getty Images: Michael Short)

When Brendan Gregg moved to Silicon Valley in 2006 as a young Australian software engineer, Apple was building its first iPhone, Google was still rolling out Google Maps and Uber did not exist.

The global financial crisis of 2008 was followed by a 15-year tech boom that introduced the world to smartphones, apps and now-common terms like "selfie", "viral" and "emoji".

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