I also don't think there is a bubble. The company acquisitions for talent alone have been reasonable as far as I can tell. In the IT services industry this is l

I also don't think there is a bubble. The company acquisitions for talent alone have been reasonable as far as I can tell. In the IT services industry this is long standing practice for talent acquisition. There is always a shortage for great engineers and they generally have great jobs, so acquiring the top tier will always be competitive as in any other industry. For most companies, the only way to gain access to this tier continues to be personal networks or if they are in the founding team. For other organizations, growing this talent from promise is the most pragmatic approach assuming have some really good talent to mentor them. The middle and lower tiers are being paid upper middle class wages commensurate with education, experience, and economic contribution. Things are more competitive in hot geographies like Silicon Valley and Seattle, but that is nothing new.