I think people are overly attributing the end of low interest rates to the current job market in tech. The truth is over last 10-20 years we've gone through a

I think people are overly attributing the end of low interest rates to the current job market in tech. The truth is over last 10-20 years we've gone through a huge technological boom which has driven the job market in tech. In the mid 2000s almost no one knew how to code. Software engineering was more a hobby than a career choice back then. Yet, from 2005-2015 we had innovation after innovation which demanded people with coding skills. This article mentions things like the launch of the iPhone and AWS, but there was so much more than just that. The switch from dial-up to broadband meant people were more frequently using the internet, and using it for more than just web browsing – now they were downloading music, watching videos and chatting to their friends. Then the launch of the iPhone and 3G shortly after meant suddenly the internet was now everywhere all the time, and this spawned businesses like Facebook and Uber who enabled companies like Twilio. And now that everyone was online eCommerce started to boom too which enable companies like Saleforce, Shopify and Stripe. And I could go on here, but our lives are so different today and this shift fundamentally required a large number of software engineers during a time when software engineers were in very short supply. While progress will continue, it seems unlikely we're going to see a repeat what we've seen over the last ~20 years. AI might change our lives significantly, but it's hard to see how AI would make software engineers more valuable given they fundamentally make knowledge and intelligence more accessible. Additionally, today software engineering is a career kids actively pursue, and even if they don't pursue it most kids will still end up doing some basic coding at school. Meanwhile things are getting easier to build all the time. When I was learning to code building anything was a technical challenge. For one, Youtube and Stack Overflow didn't exist. There was no cloud hosting, and no free tier hosting. Programming languages themselves sucked – if you think Java sucks today then try using it 15 years ago. But the biggest changes have been in SaaS where today literally anyone can start an eCommerce store or take payments online in minutes. The things I do as a software engineer today are becoming increasingly niche and a lot of it is just plumbing services together which doesn't take much intellect. And even this can increasingly be done with AI tools. I think tech as an industry is going to do great over the next decade, but they won't need as many software engineers.