2 ms·
Economics happens in cycles, because there's competing balancing loops and runaway loops. Tech makes big money, hires, pays big money to prevent competitors fro
by muzani 3y ago
Economics happens in cycles, because there's competing balancing loops and runaway loops. Tech makes big money, hires, pays big money to prevent competitors from hiring talent.
Eventually everyone overhires, extrapolates from the status quo ("why am I not making a $600k salary??"). Property prices and living costs go up. People get lazy, processes are bloated because of the overhiring. Tech layoffs happen to control the bleeding and move faster. The balancing loop becomes dominant when growth slows.
Eventually everyone says tech is dead. People tell their kids to become doctors or real engineers instead. Less engineers are on the market, and it will upturn again. This is actually the best time to be in tech - most of my income is from doing Android back when people said I should be quitting tech or making BlackBerry/Windows Phone apps.
The dot com bubble popped in 2000. Web 2.0 bubble appears to have peaked in 2022, but the data is still unclear. So we can assume that there's a 22 year cycle or so. It's not sinusoidal; it's a boom and bust form where it goes up exponentially (slowly) then busts. The dot com bust cycle went from peak to bottom in about 2 years, but I expect this time it might be longer. After the bust, the market is still much stronger than pre boom, but far from the peak.
There's a lot of abstraction here and it can be modeled better, but the tldr is do what you like. Doing a degree takes time. We should be out of the trough by the time you're done. If you want to work hard and grit it out, you can do that too.
I'd say go to a good uni, though. No name ones won't give you any confidence. The benefits lie in the people you meet and the ideas.