Are we actually in the midst of a tech downturn though? I mean tech valuation are back to what they were pre corona pretty much. Did VC money completely dry up?
IBM has laid people off. Some companies like Uber, Lyft and Airbnb laid off a lot of tech people (even if the extent of their status as "tech" companies is questionable).
Yes, I hear the anecdotes as well. I guess a lot depends on what happens in the fall/winter corona-wise. If it declines and doesn't come back you could make the case for a relatively quick recovery.
Some governments are pledging support to startups, which is indicative of some trouble: https://sifted.eu/articles/startups-government-support/
Anecdotally, I'm also hearing that startups are having a hard time finding funding, which isn't surprising in the current cautious financial climate.