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by corporateslave5 2247 days ago
People have been calling software engineering wages a bubble for 20 years, and trying to call “the end of tech”. I just don’t see it, highly proficient software engineers are more valuable than ever. The wages are higher than ever. Going forwards, tech is really the only engine of growth in the American economy. Trying to say tech will be under for years is like saying the USA will be in a massive recession for years. I just don’t believe it.
2 comments
code4tee 2247 days ago
What’s happening now is very analogous to the 2000 dot.com crash. The economy overall will recover, albeit slowly. However companies are questioning why they need 100 engineers instead of 50. That doesn’t just reverse itself overnight. As the OP said those that weren’t around the last time might find it hard to believe that tech jobs really just disappear for years.
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corporateslave5 2247 days ago
No it’s not. The fed printed so much money and dropped rates so low, there’s a massive excess of capital looking for business opportunities. Monetary policy is what is driving the economy, and it’s making this bubble bigger than ever. You can’t ignore economics and cheap money. We will have ten more we work like companies.
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orky56 2247 days ago
Rates are low now but it will take time for this to get reflected in VC/PE/corporate dollars to invest. The addressable market of consumers/enterprises that are willing to spend money on non-essential products/services is down and will drop further since budgets are being tightened and fat is being cut. The 2008 unicorns that were born out of the last recession had to provide oversized returns to investors based on them addressing needs well beyond what cash-strapped consumers/enterprises were willing to spend on. We're in for a ride.
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corporateslave5 2247 days ago
Not really. You are underestimating the magnitude of money injected into assets.
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empath75 2247 days ago
When you've got 100s of thousands of unemployed talented engineers on the market, you're not going ot be able to sustain $200k salaries for people who know how to write a yaml file for long.
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corporateslave5 2247 days ago
Not when the FED is printing so much money. That money has to go somewhere, and a lot of it ends up funding new startups and new corporate debt.
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g981ms2 2247 days ago
yaml's are sometimes difficult to write.
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