Twenty years back, companies that were still young like those of Google and Oracle had no clue that IT could have such a potential. Potential that they still could not measures. They began to exploit it, not knowing the depth of potential it holds for them. Initially they progressed well. Growth was exponential and opportunities were tremendous. But what they failed to understand is that, it all got to stop somewhere and drop down or at least stay constant.

To put it in simple words, they were greedy. They wanted to grow and grow endlessly. When they saw an initial growth, they began to predict at least double the growth next year and hence began to recruit and invest more and more money. But when they hit the bottom, little did they realize about their flaw and their economy came trembling down, the result - Recession. What these Industries need to understand is that they need a steady head and plan thoughtfully fully knowing the potential of the industry before they begin to exploit it. As long as they learn this lesson, these cycles of recession will hit us again sometime soon.