I see so many posts on here recently along the lines of "omg nobody is hiring, recruiters aren't sending me 5 linkedin messages a day anymore, tech industry is dead" and it just hit me: It's been so long since the tech industry - in most of the world but particularly the US - was last truly impacted by a recession that probably over half of the tech workforce had literally not even graduated college when the last big tech recession happened. This industry was in pretty much constant growth for about 22 years - which is kinda crazy when you think about it. Pretty much up until the early 90s the US experienced a recession about once every 4-5 years, and then since the 90s it's only had 3 - and if you look at NASDAQ prices you can see that the 2008 recession didn't do much to disrupt tech growth. So many folks who got hired after 2000 believed that they could FIRE by 40, and they wouldn't have been crazy to believe in that dream because, let's face it, making $600K a year to do jobs that most of us nerds would've done regardless of the pay was kind of a too-good-to-be-true story anyway. As odd as it may sound, some of us actually do enjoy writing JSON schemas for a living. 🤷 But could it ever truly last long enough for everyone to FIRE by 40? History seems to suggest that we were the anomaly. We had an outstanding run, but so did the railroad companies and the oil companies. Sure, oil companies still make money, but how many oil employees do you know who FIREd by 40? The answer is probably "not many" because there are currently about 300K people in the US working in the oil industry, and there are about 8-12M people in the US currently working in tech, so if we had all started retiring at 40 that would've been pretty damn unprecedented historically. Just sayin.
Good times only last forever when we are on morphine drips at end stage of our lives
You sound like a fun dude to take to a party or a wake
What makes you think it’s bad.... most of the people laid off at Twitter will be employed at another tech company within a month.
Since this platform is dominated by big tech workers, it may give wrong perception about tech industry. No, not everybody earn 600k and plan to retire at 40. Not each of that 12 million workers is a senior software engineer. Guys connecting your house to Internet are also part of this group... and folks from boring semi-IT companies. They have normal salaries, or slightly higher than normal. “If we had all started retiring at 40 that would've been pretty damn unprecedented historically”. It would be, but we all haven’t started. Not even 10% of us.
They were gonna last much longer if we did not had two puppets in the role of president and vice president. Let them support Ukraine, can take care our own economy after nothing is left
Still chasing that dream, huh?
There are people who are Kubernetes experts in India working for $20/Hr No need to pay $200-250k/yr for one in the US.. more companies are realizing it, thank goodness I am at the tail end of my career.. going forward I think tech in US is dying, eventually everything will be outsourced. It wasn't possible before but now it is due to remote technology.
Ok Boomer. Hurry up and die so Black Rock can buy your house and rent it to me.
Most SWE’s have no idea of economy, history, socio-politics and still behave as if they know it all based on some high TC, they have seen good times ever since they graduated from school and unfortunately that’s all they factor-in when they predicting the market
This reads like sour grapes. Just receive another tech job rejection?
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You’re acting like this is the bad times for just tech. It’s called a fucking recession. Overvalued companies are being valued appropriately. Tech is not dying. Chill out.
That's exactly my point: the sky isn't falling, recessions are normal.
I understand at macro scale this is supposed to happen. But for someone who has lost a job and for that family who depends on that job , it is "sky is falling" situation.