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E NROLLMENTS IN COMPUTING-RELATED undergraduate degree programs are booming , about to establish a new record in North America. There is also a growing demand for computing courses by students who are not computing majors. In the U.S., President Obama recently announced a new $4 billion initiative " to empower students with the computer science skills they need to thrive in a digital economy. " Of course, this popularity does not come without costs. The growing size of computing degree programs is clearly stressing academic units and putting pressure on the quality of education provided to students. In response to the insatiable demand, academic institutions are raising their level of investment in computing programs, but academic hiring is agonizingly slow! What is driving the computing-enrollment boom is undoubtedly the global technology boom, epitomized by the global rise of " unicorns " —tech startups with a valuation of at least $1 billion. Fortune magazine recently wrote " The billion-dollar technology startup was once the stuff of myth. Today they're seemingly everywhere, backed by a bull market and a new generation of disruptive technology. " In January 2016, more than 170 companies were on the unicorn list. It is the dream of joining a unicorn that probably attracts many students to study computing. We must remember, however, we have witnessed such booms in the past; the history of computing education is a history of booms and busts. Computing related degree programs were introduced in the mid-to-late 1960s, and grew slowly during the 1970s. The introduction of the IBM PC in 1981 made computing a household phenomenon and triggered the tech and enrollment boom in the 1980s. That boom was ended by a recession of the early 1990s. By the mid-1990s, the Internet and the WorldWide Web had become household names, launching the dot-com boom; the growing popularity of the " Web " led to the founding of many Internet-based companies, commonly referred to as " dot-coms. " The NASDAQ Composite Index, a U.S. stock-market index that includes many tech companies, more than quintupled between 1995 and 2000. The excitement about the new technology and the demand from the job market led to a growing popularity of computing education; enrollments in North America nearly tripled between 1995 and 2000. Surging enrollments were stressing academic units, forcing institutions to increase staffing in those stressed units. But by 1999 it was becoming increasingly clear the …

Are we headed toward another global tech bust?