Lots of good comments on this but two factors I haven't seen considered: - Rise of programming bootcamps - More intrusive workplaces In the 90's and early 00's

Lots of good comments on this but two factors I haven't seen considered: - Rise of programming bootcamps - More intrusive workplaces In the 90's and early 00's programming was not cool. There was a lot of money to be made, sure, but the average developer was far more likely to be in it for the software, not the money. Companies were more willing to bring people on then because there were far fewer bullshitters. Post '08 programming became cool - remember brogrammers? - and a whole cottage industry of bootcamps popped up. Companies had to pull back and put up a lot more barriers to hiring because so many people started applying with dubious resumes. It also seems like there has been a slow but steady increase in how intrusive your workplace is to your life. Hiring and firing people has slowly become more and more fraught for employers so they want to do less of it. Insurance has gotten incredibly expensive and is linked to your employment so both sides are wary to take chances and want a sure thing. I don't think this is a phenomenon just in tech either. It's a US wide problem with all the incentives making it difficult to take chances.