Transcript: Margaret O’Mara on Downturns in Silicon Valley

Silicon Valley is in a slump. Startups are closing up shop, raising down rounds, or laying off employees. Even the behemoths are pulling back in way that some of them have never done before. But of course, tech is known for its booms and busts. So what happens to the industry in a downturn? How long will it last? And how will tech be transformed. In this episode, we speak with University of Washington historian Margaret O’Mara, author of The Code: Silicon Valley and The Remaking of America, to discuss the cycles of Silicon Valley. This transcript has been lightly edited for clarity.