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Is the Low-Code Development Hype Cycle Heading for A Crash?
Most people get interested in a technology when everyone else is
“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one.” — Charles MacKay,
Technology doesn’t have bubbles and crashes, instead it technology becomes over-hyped. It becomes overused and used where it’s not a good solution.
In the beginning, we use new technology innovatively. It works well, saves time and improves productivity. It goes up the hype cycle and the answer is low-code development, no matter what the requirement/project or problem is.
It becomes fashionable to do a low-code projects because everyone else is doing low-code projects. Instead of asking what technology should use, companies demand projects are done using low-code software development.
Bitcoin
The recent crash of Bitcoin price reminded me that bubbles burst. When herds of people do the same thing and stop thinking, it causes crazy highs, followed by crashing lows.
Looking at the price chart, you can see sometimes people made big paper fortunes only to lose it a few months later as the prices crashed. If they held on, they would have made a bigger fortune.
Bill Gates calls out cryptos & NFTs, says asset class is ‘100% based on the greater fool theory’ e.g. they are worth more as long as you can find a greater fool than yourself to sell them to.
What is for sure that hype and the promise of easy profits sucked a lot of people into buying cryptocurrencies. What is a Bitcoin worth? I guess we will have to wait for speculators to stop pumping and dumping Bitcoins before we can tell.
Hype Cycle
The hype cycle has five steps
- Technology trigger — new technology
