4 ms·
The issue in the current market isn't ex-FAANG employees. Most of them can probably find jobs elsewhere or should have plenty of savings to live on until the Fe
by bdw5204 3y ago
The issue in the current market isn't ex-FAANG employees. Most of them can probably find jobs elsewhere or should have plenty of savings to live on until the Fed cuts the interest rates and they can get funding for their startup. It is people who don't have FAANG on their resume and can't find work at all because FAANG decided to use its monopoly power to manipulate the labor market. Specifically recent graduates and people who've been laid off from companies that aren't FAANG.
Manipulating the labor market is far worse than manipulating the consumer market. People can choose to live without computers even if that's increasingly challenging. People can't survive in a country like the US that lacks a basic social safety net without stable employment.
- ghaff 3y agoSo your argument is that if these people were never hired in the first place, the market would be better for people with less good backgrounds either for reasons of schooling or experience? I'm not sure I draw that connection. I generally get that things are tougher for juniors--especially juniors with questionable credentials--but I have trouble drawing a line that developers are generally worse who were showered with money at a few companies in 2021-2023. And there are always industry periods when things are tougher for some cohorts (or even all of them).