Good developers and computer scientists and architects sure. What we've been seeing for awhile is near zero interest rates allowing for unprecedented monetary expansion. It gets to a point where locking down all available talent is a good business decision so that you aren't left hurting for it when you need to go looking. But with monetary contraction + shareholder obligations, these companies are going to need to shed the less talented and more tangential talent.
I expect to see non-CS people shed. Probably the less apt coders that haven't gotten around to making each mistake twice.
The solid devs and CS/math/stats people will stay and will probably be compensated better. They can keep a company alive when it consolidates back to its mission. They can lead it out when the boom starts. And with some of the chaff gone, its easier for competitors to see and put offers on the prime talent. So there's that. These businesses know that good devs are like good artists and experienced good ones don't exist in anywhere near the numbers people outside the industry think.
Tech surged during COVID because of financial witchery. FAANG wasn't exactly moving mountains with new innovation and disruptors weren't exactly rising up. The cloud was just much better adopted and shareholders jumped on theme while the federal reserve vomited money into the floor of the markets via Blackrock and the Treasury. Bitter insiders were painting the top companies as being even more zombie than they were in 2019.
Good developers and computer scientists and architects sure. What we've been seeing for awhile is near zero interest rates allowing for unprecedented monetary expansion. It gets to a point where locking down all available talent is a good business decision so that you aren't left hurting for it when you need to go looking. But with monetary contraction + shareholder obligations, these companies are going to need to shed the less talented and more tangential talent.
I expect to see non-CS people shed. Probably the less apt coders that haven't gotten around to making each mistake twice.
The solid devs and CS/math/stats people will stay and will probably be compensated better. They can keep a company alive when it consolidates back to its mission. They can lead it out when the boom starts. And with some of the chaff gone, its easier for competitors to see and put offers on the prime talent. So there's that. These businesses know that good devs are like good artists and experienced good ones don't exist in anywhere near the numbers people outside the industry think.
Tech surged during COVID because of financial witchery. FAANG wasn't exactly moving mountains with new innovation and disruptors weren't exactly rising up. The cloud was just much better adopted and shareholders jumped on theme while the federal reserve vomited money into the floor of the markets via Blackrock and the Treasury. Bitter insiders were painting the top companies as being even more zombie than they were in 2019.