Comment by forgetfreeman 2 days ago
.com implosion, tech jobs of all kinds went from "we'll hire anyone who knows how to use a mouse" to the tech jobs section of the classifieds was omitted entirely for 20 months. There have been other bumps in the road since then but that was a real eye-opener.
It was nothing like covid. The dot com crash lasted years where tech was a dead sector. Equity valuations kept declining year after year. People couldn't find jobs in tech at all.
There are still plenty of tech jobs these days, just less than there were during covid, but tech itself is still in a massive expansionary cycle. We'll see how the AI bubble lasts, and what the fallout of it bursting will be.
The key point is that the going is still exceptionally good. The posts talking about experienced programmers having to flip burgers in the early 2000s is not an exaggeration.
After the first Internet bubble popped, service levels in Silicon Valley restaurants suddenly got a lot better. Restaurants that had struggled to hire competent, reliable employees suddenly had their pick of applicants.
History always repeats itself in the tech industry. The hype cycle for LLMs will probably peak within the next few years. (LLMs are legitimately useful for many things but some of the company valuations and employee compensation packages are totally irrational.)
well same like covid right??? digital/tech company overhiring because everyone is home and at the same time the rise of AI reduce the number of headcount
covid overhiring + AI usage = massive layoff we ever see in decades