Yes we’re do for a recession. Look at housing prices and recent IPOs to gauge the market. Add to it diminished confidence in the fed to control inflation and the break from using the US dollar as a standard reserve currency
*due
What on earth is Seal Software?
It does seem like market is softer now. If using real estate as an indicator ... But I'm hopeful it does not mean a full on recession.
Are you worried about job security being in Amazon during recession? Just trying to understand what people in FANG think about recession.
There is always that question sure. If the economy is not doing well, companies make less, and stop hiring, and they will let people go if they have to. Even the big FANG can't escape this. Maybe they will be less affected, but I think for Amazon a big chunk of the company's profit is tied to consumer spending. During recession that chunk will shrink, so it is perhaps more affected than say, google ...
Scariest thing for me is that I feel innovation is stagnating. I feel we are now making micro improvements to existing products instead of the leap frog products that we saw over the past decade. Plus companies like Google have huge cash balances that are just sitting there cause they don't know where to invest it... Kinda freaks me out
I think innovation is still happening. Just not in the areas we’ve seen. Everyone is focused on smart phone tech and upset with the innovation there and that’s because it’s to a point where we’ve done most of what we can do for it (for now). But look at possibly AR coming, self driving cars, medical and biotech, space travel, long distance travel I.e hyperloop, small self driving aircraft, etc. innovation is happening around us just in different areas. And for sure - a lot of companies are sitting on cash because they stopped investing in technology and themselves and instead fearful of downturns. What ever happened to trickle down? Never works because we are all hoarders when it comes to net worth. This is one of the things I like about Amazon, they are constantly reinvesting the cash into themselves.
People like me who only became software engineers because we wanted to make video games are finally benefiting from the direction tech like ar, vr, self driving cars, etc... It may not be that noticeable to some people but ar vr is def taking a hold in tech.
Bay Area real estate is finally heading down. Look at average and median prices for Cupertino (or Sunnyvale, Mountain View, even Palo alto) now, they are lower than this time last year
Is there some data you can share that shows this?
They aren’t lower than this time last year. They are just lower than this time in last month.
Yes. Recession is coming and with it comes the debt.
And is there a need to be worried being in Google?
Is recession coming? Yes. When? Roll a die
Meaning definitely in the next six years?
Just want to hear from a FANGer, how insecure do you feel coz of upcoming recession?
I think your perception of all people working in FANG as some super secure all highly talented people is wrong. There are all sorts of people there. Only the top 1% is truly talented and hence won't be affected by all these scares. Rest just ride on the popularity train. In blind
Personally I'm looking forward to it and hoping it'll be really bad. Recession is the best time to buy/invest.
I think it’s coming, but I’m not worried at all.
Because you're focusing your worrying on the php codebase ?
On stressful perf review
We are lucky in tech. There is enough demand even with a softer economy. I worry for people in sectors like manufacturing though.
Being in Amazon, do you fear for recession? How is the talk/idea with people you know in general?
I don't know if it matters what company in tech, all of us are very tied to the economy. Look at Google, 90 percent of their revenue is ads. If recession hits and company starts cost cutting and reducing marketing budget, Google is fucked
Impact will vary. Companies making no monies vs profiting billions in a quarter going to see different level of layoffs
^^