The last 10 or so years saw explosive growth in the tech industry, in large part due to the Fed keeping interest rates at ~0%. I will say that the smartphone also helped power this growth, but the Fed added rocket fuel with its easy money policy. Tech is going back down to Earth. The last few years were a bubble, and it's popped. We are not gonna see the insane comp/growth we got used to in a long, long time.
Chatgpt enters the chat
Tech is the thing that moves mankind forward. And you think the people do so will not stay ahead of rest of the population? You are not thinking clearly. Software (in form of AI) and biotechnology will lead the way next several decades. Don’t forget about the trillions given away. Those money has to go somewhere.
Crypto is going down alright
i think overall TC will go down, but tech will still be the best sector for an obtainable middle class career
Everyone who thinks tech salaries will grow indefinitely is applying wishful thinking. They may remain high but they aren’t going to pay every mid level SWE 600k because you want money and think the universe responds to what you want out of life.
Going to be a lot of cope in this thread from all the engineers who lifestyle inflated along with their bubble TCs.
Yup, let humanity forget tech and go back to?
You’re right that the tech salary growth was due to easy money made available by Fed. Texh becomes a bubble, somewhat bursts, and is saved by Fed by providing more easy money. As long as Fed has the ability to keep printing money w/o consequences, tech salaries will continue to grow.
Currently, 55% of respondents are very deluded.
When the PC came out people thought this was it. When the iPhone came out people thought this was it. When social media went mainstream people thought this was it. Markets are cyclical. Lots of hard problems to be solved.
Every time Fed saved the economy and tech sector by printing more money w/o consequences. It will not be able to do that this time
They just did with SVB. Manufacturing in America is dead. They only have 2 avenues for being the center of the world - big tech companies that launch products and services that the entire world uses. Big financial service companies - that manage the wealth of all the rich folks in the world.