20 Tech Failures That Changed 2024

As tech becomes a larger and larger part of our lives, there will inevitably be some setbacks. Read this article to learn about the 20 tech failures that changed 2024.

Cyra Sanchez
January 16, 2025
7 min read

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Tech had a big year in 2024—one full of high-profile flops—and as a result, we have some big lessons to learn about the industry’s future. Here, we look at those significant missteps, from cybersecurity breaches to product duds, and the valuable lessons they held on innovation, resilience, and ethical practices.

1. The “Metaverse Meltdown”

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Remember when Facebook changed its name to Meta, and everyone said, ‘Virtual reality is the future’? Yeah, that didn’t happen. Meta invested billions in the metaverse, a virtual landscape where users could work, play, and socialize. Despite numerous promises, the technology never really delivered. It suffered from technical difficulties, poor content, and a lack of public response.

2. The “AI Apocalypse” (That Wasn’t)

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Whatever happened to all those doomsday predictions about AI taking over the world? Well, 2024 was the year of AI, sure, but not in the way anyone had anticipated. From autonomous vehicles running wild to AI-run robots french-frying people, the press was awash with worries about AI. As it turns out, many of these fears were overblown. Few examples within the tech industry have the potential to change the world, but the development of AI still has a long road ahead.

3. The “Crypto Crash”

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Remember how everyone was crazy over cryptocurrencies? Yeah, that bubble popped spectacularly in 2024. It was an unprecedented year for cryptocurrency. The crypto market went through a chaotic crash, and billions of dollars in value were gone, leaving many unaware to ask about crypto problems. This crash was a rude reminder that investing in volatile and unregulated markets comes with risks.

4. The “Streaming Wars” Fatigue

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Do you know how a new streaming service comes to you when you turn around? Well, bustling 2024 was the year of streaming fatigue. Consumers were awash in subscriptions—1,000 a month—and needed their attention and wallets. This resulted in the mass cancellation of subscriptions, a re-evaluation of the value proposition for streaming services, and market consolidation.

5. The “Smartphone Saturation”

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Remember when everyone was on their phones? Well, 2024 could be the year that smartphone obsession disappeared. However, smartphone sales declined as consumers became aware of the adverse impact of using them too much. This change in consumer behavior led smartphone manufacturers to invent new technologies, such as AR and foldable phones, to attract consumers.

6. The “Big Tech Backlash”

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Remember a time when Big Tech companies were considered untouchable? So, 2024 was also the year of the Big Tech backlash. In 2023, the ATFB powered up its engines to take on the enormous task of bringing the tech giants to heel, regulating everything from data privacy to misinformation. This backlash compelled tech companies to adapt and be more accountable to the public.

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Remember when social media was meant to draw us together? But in 2024, people are disillusioned with social media, even its relatively tame parts. Concerns over how social media ruins the mental health of its users, accelerates the spread of misinformation, and erodes civil discourse has reached a fever pitch. This has prompted many to rethink their relationship with social media, take breaks from it, and sometimes delete their accounts entirely.

8. The “Self-Driving Car Stalemate”

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When did self-driving cars start to be everywhere by now? Ah, 2024 is the year of the self-driving car deadlock. After years of hype and billions of dollars in investment, self-driving cars were still mostly limited to test concourses. Technical challenges, regulatory hurdles, and safety concerns continue to delay the wide adoption of autonomous vehicles.

9. The “Space Race 2.0” Slowdown

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Remember all the hubbub about private space companies and space tourism? Well, in 2024, the space race slowed a wee bit. Cost overruns, technical difficulties, compliance issues, etc delayed many new space ventures. Periodically but not routinely, the long-term vision of space exploration and eventual colonization acted as a further stimulus for innovation.

10. The “Cybersecurity Crisis”

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Of course, 2024 was the year of the cybersecurity crisis. A series of high-profile cyberattacks, such as ransomware attacks and data breaches, revealed the weaknesses of individuals and organizations alike. This crisis exposed the need for increased cybersecurity protections and vigilance against online threats.

11. The “Internet of Things” Implosion

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Do you remember when everything was supposed to be connected to the Internet? IoT fell off the hype meter in 2024. Security vulnerabilities, privacy risks, and a lack of interoperability limited the widespread adoption of IoT devices. Along the way, several challenges have delayed practical implementation.

12. The “Virtual Reality” Reality Check

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Do you remember when VR was going to change entertainment and gaming? Well, 2024 was the year of the virtual reality reality check. While we did see some great successes, the technology continues to be an extended argument against mainstream use cases, such as getting expensive content and having no killer purposes. However, VR technology is evolving, and there may be use cases where it makes sense.

13. The “Wearable Tech” Plateau

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Remember when everyone was wearing fitness trackers and smartwatches? Now, 2024 might witness a slowdown in wearable tech growth. As consumers became more sophisticated, they demanded new features and longer battery life from their wearables. This drove wearable tech companies to innovate and set themselves apart from each other in the compact market space.

14. The “Blockchain Bust”

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Remember when blockchain was going to change everything? Well, by 2024, the hype around blockchain had subsided. Failed to deliver on their promises, many blockchain projects, and struggled to find widespread real-world use cases other than cryptocurrencies. Blockchain is still a developing technology that can be seen at home in specific industries.

15. The “E-commerce Fatigue”

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Do you remember when everyone bought everything online? Well, e-commerce growth also dropped in 2024. Consumers started to remember the pleasures of in-person shopping, and the novelty of online shopping began to fade. As a result, e-commerce businesses had to rethink and adapt, providing a more personalized experience and emphasizing customer service to stay competitive.

16. The “Gaming Industry” Slowdown"

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Remember when the gaming industry was booming? Well, it slowed a bit in 2024. A few high-profile game flops and falling console sales helped spur the slowdown. Nevertheless, gaming is a vast entertainment industry, and emerging technologies like cloud gaming and virtual reality could fuel future growth.

17. The “Biotech Bubble” Burst

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Remember when biotech startups were all the rage? Well, it was “a biotech bubble” that burst in 2024. Several overhyped biotech firms did not deliver on promises, resulting in significant investor losses. This was a reminder that progress toward scientific breakthroughs is rarely swift or linear.

18. The “Remote Work Revolution” Reversal

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Remember when we all worked from home? Well, the remote work revolution was undone in 2024. Most companies started calling employees back to the office, claiming that productivity, collaboration, and company culture suffered. This raised questions about the future of work and how to strike the right balance between remote and in-person work.

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Remember when everyone wanted to become a social media influencer? Well, 2024 was the year social media influencers plummeted in power. Shoppers grew more selective as they put more trust in the products promoted by creators.

20. The “Tech Talent Shortage”

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Remember when tech companies couldn’t find enough qualified employees? Well, in 2024, a critical tech talent shortage hit. The need for skilled tech workers still exceeded available workers, resulting in a heated race for talent that was highly demanded. That shortage underscored the importance of investing in STEM education and building a diverse and inclusive tech workforce.