Dotcom crash benefits for IT sector
The dotcom crash cleansed the IT sector of 'sham' companies and strengthened the industry, according to a high-ranking Oracle executive.
In an interview with the Sydney Morning Herald, Phil Kiely, vice-president of Oracle Online Asia-Pacific, lambasted the inexperienced individuals who had brought unproven business practices to the IT industry.
‘I think it (the dotcom crash) allowed us to clean out those interlopers who came into the industry to exploit the booming sector but they had fairly untried and untested business models,’ said Kiely.
‘Some of them didn’t even understand IT and they’ve all but disappeared,’ he added. ‘It certainly has strengthened the industry.’
Kiely echoed similar calls in the UK that the IT industry must focus on education as the best route to gain top quality engineers and programmers.