[vitaflo]

>I don't know if the same thing could happen in my new life as a web dev

Anyone who lived through the dot-com bust in 2000 knows very well that it can happen. Many tech companies went under and almost all had massive layoffs. If you were one of the unfortunate, there were no jobs to be had. Most people I worked with during that time went into a completely different career field because they simply couldn't find work. It was all rainbows and roses until it wasn't.

[bdcravens]

My experience in the 2000 bust was that there were too many programmers. The market was flooded with dead weight who should have been in sales or management or baristas, but there just happened to be roles to fill.

[foobiekr]

My experience in 2000 was that experienced, hard-core coders and systems guys ended up dumped on the market with a ton of HTMLgrammer chum and simultaneously all of the big employers had instituted hiring freezes. Good people on the street for 6+ months, not just the pretenders.