Zach here. As 2022 comes to a close, I wanted to spend a moment reflecting on the year, the great work our customers and partners are doing, and what we think is to come next year.
2022 has been an unpredictable ride. We began this year in a buoyant growth market for technology and innovation. Money was inexpensive and plentiful. Securing funding was easier than ever.
And then the world changed! Interest rates have climbed, and tech stocks have fallen. The kind of work we all do — investing in technology to do something new and innovative — has come under a new level of scrutiny, and funding for entrepreneurs has become scarce.
Some of that scrutiny is deserved. Industries built entirely on speculation, while exciting in principle, lack proven value and have evaporated. Look no further than the recent volatility in the crypto market for proof.
However, we’ve moved past the speculative days of IoT, where Internet-connected juicers were getting hundreds of millions of dollars to disrupt the fresh-pressed juice industry. We’ve moved on to a world where the problems you’re solving are real.
You’re tackling climate change; sustainable transportation; energy production, management and optimization; water preservation; and intelligent electrification. You’re connecting pumps, valves, compressors, and motors, minimizing the inherent risks associated with machines that can break catastrophically. As an industry, we’ve spent the last decade strengthening ourselves by working on real, meaningful problems — and that’s the best protection in a bear market.
So, as we enter 2023, keep your heads high above the uncertainty of the world around us. You’re doing great work, and we’re honored to do it with you. On behalf of Particle, I’m grateful for your continued partnership and trust, and I’m excited to see everything we will accomplish together in 2023 and beyond.
Best wishes to you in the holiday season!
Founder and CEO