Agreed. There is sort of a vicious feedback loop at play too: 1. Large tech firms overhire like crazy 2. Interest rates go up, firms layoff tens of thousands

Agreed. There is sort of a vicious feedback loop at play too: 1. Large tech firms overhire like crazy 2. Interest rates go up, firms layoff tens of thousands of workers who never should have been hired in the first place 3. Firms pile more work on to remaining people, cut their pay relative to inflation 4. Existing workers threaten to leave, companies let them because "Look at all the talent on the market!" It's abject lunacy, and companies are all too enthusiastically degrading the quality of their own workforces. The upshot is that this will pry some entrenched talent and experience out of large employers and into smaller companies. But the latest crop of MBA whiz kids are really something special.