I can only speak from the hiring side: I've been working at the same large-ish enterprise company in the Bay Area for 9 years out of college. Up until this year

I can only speak from the hiring side: I've been working at the same large-ish enterprise company in the Bay Area for 9 years out of college. Up until this year, it was nearly impossible to hire anybody qualified. We are now drowning in candidates from FAANG, rejecting candidates that would have passed with flying colors just last year.