I started my dev career in 2007, I already knew what it meant to be humbled real quick. I kept telling all these young tech folks to save and don’t live style inflate, what do they do?
Flex their inflated TC, buy luxury cars out of college, expensive vacations, etc. I knew one PM that bought a boat lmao. I have doctor friends that live more simple lives.
Sorry but this market downturn is for the best, gotta humble these kids.
If people don't spend money to buy goods (whatever that may be - food, clothing, rent, mortgage, auto, computer, tech gadgets, etc.) , the economy won't run. The more the demand, the less layoffs. It's simple as that.
@1fmm+1jDGqipn oh boo friggin hoo with this endless co---e s-b story. go start your own company and redistribute the wealth however you see fit if its so easy, karl.
its always the mediocre brat who has accomplished exactly 0 in their life that whines about how unfair the world is.
Humbled? No, life is a big competition and when your CEOs and execs are multi-billionaires you take what you can get when you can get it. Now, if they spend their money stupidly then that’s one thing but most tech workers deserve and earn their high paid salaries and should always continue to fight for more of that pie.
I don't agree with this assessment. Nobody needed to be humbled. Granted, I don't work at Facebook, but this point of view is just flawed. Let's say we have two workers. One that makes 50k/year, and another one that makes 200k/year. They both want a boat. The 50k Individual will take a bit longer to be able to get it, say 5 years, while the 200k person can get it right away. So does the 50k individual seem humbler to you? I don't know. This reasoning doesn't make sense. It's the persons money and they can do with it as they wish, just like you do with your over inflated salary.
"Old heads stay hating"
It is hard to feel compassion when you tell people what will happen and they do the opposite and then suffer.
"I told you so and now I am not helping."
Look- I've been in the tech industry for around 20 years. Long enough to have been through several recessions and at several failed startups. I have lost my job twice in all of that and every single time it sucks. Like really, really sucks. There are a lot of people with good talent at many tech companies who are losing their jobs right now and in many cases not because they weren't doing good work but because upper management made some poor decisions.
Take it easy on these folks. Besides- if there are those in the tech industry feeling all smug about what happened at Twitter and Meta- just be aware that this is happening industry-wide and at some point soon, you too could find yourself in the same situation. We're in a recession. And recessions tend to lead to people losing their jobs.
This is not helping. I lost my job at meta. I have a $1.6M house, whose mortgage I am going to have trouble paying for. May need to sell my BMW M3 now. This has been a bad week.
Oh god how bitter you are
Old heads stay hating
Anyone that isn't in their 20's saw this coming. Why an IC in their 20's was paid 400k+ TC was just ridiculous. PhD's working to cure cancer are not paid that amount. Facebook is a message board that divided society, nothing special about what you do. Money was coming in fast and hiring was attributed to perpetual never ending growth. Hiring was just a day care for children so they dont go create a startup. Look how fast tiktok stole facebook's lunch. They knew it would be that easy, now Mark is likely going to be sued by shareholders. In 10 years Facebook will be about as relevant as MySpace or Yahoo is today.