People apply that idea to how tech works. You're right to question the evidence for it. The business cycle itself is just a bunch of ideas and theories people use to try and make sense of a chaotic, unpredictable system that is never the same twice. Sometimes it's useful, sometimes it's not.
And "theory" in this case refers to the layman's idea of theory. Not the scientific meaning like the "theory of gravitation".
People apply that idea to how tech works. You're right to question the evidence for it. The business cycle itself is just a bunch of ideas and theories people use to try and make sense of a chaotic, unpredictable system that is never the same twice. Sometimes it's useful, sometimes it's not.
And "theory" in this case refers to the layman's idea of theory. Not the scientific meaning like the "theory of gravitation".