The Four Horsemen of the Tech Recession

the current state of the tech industry and its impact on the economy. The key points are:

1. The tech industry is experiencing a downturn despite the overall positive economic indicators.
2. The four horsemen of the tech recession are identified as the COVID hangover, the hardware cycle, the end of zero interest rates, and the impact of Apple's App Tracking Transparency (ATT) initiative.
3. The COVID hangover refers to the challenges faced by tech companies as the pandemic recedes and consumer spending shifts.
4. The hardware cycle refers to the cyclical nature of consumer electronics and its impact on tech company earnings.
5. The end of zero interest rates and the implementation of ATT have disrupted the digital advertising ecosystem and affected revenue growth for tech companies.