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For those who went through the dotcom bubble is this reminiscent?

rr888 4y ago
RTO issues aside it feels more like a regular recession rather than bubble popping. The biggest difference is wages were insane last year, even in 2000 devs weren't paid more than doctors.
qbasic_forever 4y ago
No, that was more of a straight up closure of startups and tech companies. Like people would go into the office on Monday and all be fired without any idea it was going to happen. The money ran out and the good times immediately stopped. Within weeks the companies would be liquidating assets and going through bankruptcy. This is more of big companies slowly reducing costs because of the uncertainty of profits ahead.
- bdcravens 4y ago
  >> people would go into the office on Monday and all be fired Guess that's a good reason to put off bringing people back in the office. Just one day your work accounts are disabled, and the direct deposit stops coming.
- ghaff 4y ago
  Well, and then when all those startups closed, a lot of companies those startups reliably wrote checks to went through (at least) difficult times as well. There was a pretty hard knock-on effect (mostly within the tech industry). Partly because of public cloud, open source, and the sources of revenue of the large firms, there are other exposures (especially ad spend in the case of a number of the big firms) but financial relationships within tech seem a lot ore loosely coupled today.
shados 4y ago
Dotcom crash was a whole different level, with super senior architects and other extremely experienced people lining up around the block for entry level positions. For a while I was running the whole IT and software development of a biotech company for 10 bucks an hour. while my peers went on to be manager at Best Buy shift to other non-tech related roles.
- ghaff 4y ago
  Yep. I got laid off right after 9/11 (which was sort of the last straw). Fortunately, I almost immediately landed a similar (but better job), albeit with a pay cut--and there were some lean times for a few years once the tech recession hit my new company in force. But I had started looking around elsewhere as well and there was nothing that I found. I lot of people I knew ended up exiting the industry and no small number of them ever really got back on track with their careers.
itsoktocry 4y ago
>For those who went through the dotcom bubble is this reminiscent? One of the world's largest tech companies slowing hiring from a decade of absolute torrid pace of recruiting is not at all reminiscent of the dotcom crash. Yet?
nemo44x 4y ago
The .Com crash was more similar to the Crypto crash you're seeing today. Today's tech tightening is nothing like those. One of the worst parts of the .Com crash was that even businesses that were generating revenue and hitting milestones were folding because many of their customers were going out of business.

RTO issues aside it feels more like a regular recession rather than bubble popping. The biggest difference is wages were insane last year, even in 2000 devs weren't paid more than doctors.

qbasic_forever 4y ago

No, that was more of a straight up closure of startups and tech companies. Like people would go into the office on Monday and all be fired without any idea it was going to happen. The money ran out and the good times immediately stopped. Within weeks the companies would be liquidating assets and going through bankruptcy. This is more of big companies slowly reducing costs because of the uncertainty of profits ahead.

bdcravens 4y ago
>> people would go into the office on Monday and all be fired Guess that's a good reason to put off bringing people back in the office. Just one day your work accounts are disabled, and the direct deposit stops coming.
ghaff 4y ago
Well, and then when all those startups closed, a lot of companies those startups reliably wrote checks to went through (at least) difficult times as well. There was a pretty hard knock-on effect (mostly within the tech industry). Partly because of public cloud, open source, and the sources of revenue of the large firms, there are other exposures (especially ad spend in the case of a number of the big firms) but financial relationships within tech seem a lot ore loosely coupled today.

shados 4y ago

Dotcom crash was a whole different level, with super senior architects and other extremely experienced people lining up around the block for entry level positions. For a while I was running the whole IT and software development of a biotech company for 10 bucks an hour. while my peers went on to be manager at Best Buy shift to other non-tech related roles.

ghaff 4y ago
Yep. I got laid off right after 9/11 (which was sort of the last straw). Fortunately, I almost immediately landed a similar (but better job), albeit with a pay cut--and there were some lean times for a few years once the tech recession hit my new company in force. But I had started looking around elsewhere as well and there was nothing that I found. I lot of people I knew ended up exiting the industry and no small number of them ever really got back on track with their careers.

itsoktocry 4y ago

>For those who went through the dotcom bubble is this reminiscent? One of the world's largest tech companies slowing hiring from a decade of absolute torrid pace of recruiting is not at all reminiscent of the dotcom crash. Yet?

nemo44x 4y ago

The .Com crash was more similar to the Crypto crash you're seeing today. Today's tech tightening is nothing like those. One of the worst parts of the .Com crash was that even businesses that were generating revenue and hitting milestones were folding because many of their customers were going out of business.