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It is not at all obvious it will "revert" back... we had HUGE amounts of people working on bullshit projects that never generated any revenue. Maybe in the pre
by swalsh 3y ago
It is not at all obvious it will "revert" back... we had HUGE amounts of people working on bullshit projects that never generated any revenue. Maybe in the previous climate of cheap capital we could afford to do that, but in 2023 capital ain't so cheap anymore. There's very little indication that's going to change.
- riku_iki 3y agoamount/quantity doesn't mean quality. top tier still can see lots of salary increase in growing hot areas, like OpenAI pays 1M to ICs, bottom tiers yes, may be overcrowded.
- swalsh 3y agoSupply and demand, a boat load of extremely talented FAANG engineers were dumped on a smaller market. You might not be willing to compromise on the price of your eggs, but your peer might and he might be almost as good as you, and probably 10x as good as what the company previously had access to.
- riku_iki 3y agomany of them are not that talented, but just got hired during hiring boom. For example it is likely very different type of people were building Google originally when company had 25k headcount in 2010, and now with 200k headcount and abusing monopoly.