[swyx]

(author here)

yep, altho i will caveat we've basically never seen how mature FAANG act in a recession, given the long growth we've had since before they become the megacorps they are today.

but its a near certainty if FAANG is laying off folks then the smaller co's will be bleeding heavier. so the ordinal ranking of impact holds.

also i expect ex-FAANG folks have an easier go of picking up contract/freelance work given the multiple agencies focused on connecting ex-FAANG devs.