The problem with the "work from home revolution" that the pandemic brought is that if you can work a Silicon Valley job from anywhere, then you can work that job from Mumbai, for a fraction of what they were paying American workers, $5k a year vs $150k. For a difference like that, they don't care if the results are worse, so long as they stay profitable. Those Mumbai guys will get better over time, anyway. You gotta find the money somewhere, because you're taking a bath on all that commercial real estate that isn't worth anything now, and you are the one with the power, so you don't take baths.
It is not cheaper to outsource, or even possible, if folks don't produce comparable results to talent here. Then there is IP, regulatory and so on restrictions. Layoffs are part of the normal lifecycle of business. Finding out how many of those 370k are still out of job will be more telling number to describe anything. My wife got laid off from big company, 1 month into her 3 month severance she landed other job.
@@yuriib5483 interesting. Ya would be interesting to see how many are still unemployed, I'm glad she at least got a severance. I could be wrong but I'd argue there enough variating variables to each given job candidate, experience, talent, soft skills, network etc. where someone can get hired relatively quickly, and someone else by comparison could be out of work for several months.
All the staffing companies have gone full on H1B. All of them. Their sales pitch in staff augmentation? Our Indians will work cheaper than THEIR Indians. LOL. And so it goes. There has never been a more ruinous piece of legislation (for the US middle class) than the 1990 immigration act.
And I hate that term, "laid off." Its nonsense. That term was used in the 1950s when we still assembled things and still had plants and factories. You were "laid off" then but you knew, when things turned around, you would be "laid back on." No such thing happens today. A lay off = fired. Just not a reflection on your performance.
Skill issues. Just got 3 offers (out of 3). Including Meta and Amazon. And I was horrible at 2 of the interviews. The party is over for those who got in tech just for free money and free smoothies. Now it's for those who actually love tech and have talent. And it's better this way.
I have been trying to get a job for four years now for this exact reason. Things are too unstable and I want to be able to provide myself and my family however I can't get the capital to do it. So i am stuck in limbo hoping that things will get better for me to make the necessary moves. I worked in another industry and by the time I upskilled to make the move to tech the economy tanked, the war in Ukraine, hiring freezes etc and now i am just hoping for that chance. Now i am waiting to see if things will get better after the election.
I'm sorry to hear that brother. Moreover, forgive me if you've heard this advice before. A great place to start is to just analyze where you're currently at. For example, make a checklist and make sure you have one of each, a portfolio, a resume, a linkedIn, and a GitHub. If you're missing any of those, or what you have is not very good, that's a good a place to start. Second, it's super important to submit job applications every single day, 5-15 depending on how time you have. If you do this consistently, and for a long enough period, eventually you start getting interviews. In so far as the market, a sign you can look at to see when there will likely be more job opportunities is to track when the Federal interest rate is lowered and money becomes cheaper to borrow.
@@TechIndustryAnalysis Thank you for the advice. I have the linkedin, a portfolio. I do not have a Github but I will start working on that. I also will start the 5 -15 applications per day. I was doing 10 applications a week but I see the thought process behind this. I do have a couple of questions. So in 2019, 2020 the interest rates were low from the fed; is this why their were so many jobs? When the rates go up is this why layoffs happen?
You can always find exceptions, but from what I've researched, yes. Jerome Powell, the head of the Federal Reserve, sets the rate. The trend I've seen is that when the interest rate goes up (meaning money is more expensive to borrow), there is a general economic slowdown, often resulting in layoffs. Vise versa; when the interest rate goes down, money becomes cheaper, and this generally creates a downstream effect for businesses to start hiring again. Lowering interest rates has its own dangers, but I'll leave it at that for now. Got a video on the topic here to as well, please watch if you'd like: th-cam.com/video/xnX09p3xRQU/w-d-xo.html
@@TechIndustryAnalysis I wanted to thank you for the advice as well as the video on the interest rate. This was a huge help and gave me a greater understanding of what to watch out for. you have been extremely helpful and your channel is very informative. Even though i am not a coder or anything the information is greatly appreciated.
Jamie I would just keep sending out resumes, non stop. There are lots of opportunities, something will hit. In the meantime, deliver pizzas until something hits. Drive for Uber until something hits.
I've been looking at the comments, and I noticed I have a super-intelligent audience! I'm glad we're connecting on these ideas. We're stronger together.
I graduated from a tech school in 2000. Yes, right as the bubble was in full on free fall. There were no jobs let alone tech companies. Then right after that we got 9-11. I hand walked my resume into a lot of companies so that they could put a face to the name. Wasn't until 2003 that I landed my first role. Then in 2008 every single person lost their job and at minimum 50% of their net worth. Just this month I have five recruiter emails asking if I want to quit my job and move to another tech company. Today is still about 10,000x easier than what we lived through. Just sayin.
I'd recommend to keep sending applications. Also, ask for the money you actually want. Just make sure what you're asking for is in the range they're willing to pay. God bless
@@TechIndustryAnalysis if I had to guess, all 370,000 are working again in IT, elsewhere. And if they were laid off (fired really), not really having anything at all to do with their performance. Their company is doing bad. So they don't really want that job anymore anyway. That said, the H1B is real problem here.
@@paulcolburn3855 Interesting. It's true that firing at a massive scale (non-performance-related) usually reflects a company's poor financial health. I often miss this point.
@@YasinPatwari-kj6od@YasinPatwari-kj6od Yeah, 5% is tough; it depends on an individual's risk tolerance. Some people might take the shot at 5% if it means getting out of 9-5. But that's not for everyone, and that's cool too.
![[Live สด] การออกรางวัลสลากกินแบ่งรัฐบาล งวดวันที่ 16 พฤศจิกายน 2567](http://i.ytimg.com/vi/wPd7VFfWHIA/mqdefault.jpg)
The problem with the "work from home revolution" that the pandemic brought is that if you can work a Silicon Valley job from anywhere, then you can work that job from Mumbai, for a fraction of what they were paying American workers, $5k a year vs $150k. For a difference like that, they don't care if the results are worse, so long as they stay profitable. Those Mumbai guys will get better over time, anyway. You gotta find the money somewhere, because you're taking a bath on all that commercial real estate that isn't worth anything now, and you are the one with the power, so you don't take baths.
Excellent point, it's just cheaper to outsource
It is not cheaper to outsource, or even possible, if folks don't produce comparable results to talent here. Then there is IP, regulatory and so on restrictions. Layoffs are part of the normal lifecycle of business. Finding out how many of those 370k are still out of job will be more telling number to describe anything. My wife got laid off from big company, 1 month into her 3 month severance she landed other job.
@@yuriib5483 interesting. Ya would be interesting to see how many are still unemployed, I'm glad she at least got a severance. I could be wrong but I'd argue there enough variating variables to each given job candidate, experience, talent, soft skills, network etc. where someone can get hired relatively quickly, and someone else by comparison could be out of work for several months.
All the staffing companies have gone full on H1B. All of them. Their sales pitch in staff augmentation? Our Indians will work cheaper than THEIR Indians. LOL. And so it goes. There has never been a more ruinous piece of legislation (for the US middle class) than the 1990 immigration act.
And I hate that term, "laid off." Its nonsense. That term was used in the 1950s when we still assembled things and still had plants and factories. You were "laid off" then but you knew, when things turned around, you would be "laid back on." No such thing happens today. A lay off = fired. Just not a reflection on your performance.
Skill issues. Just got 3 offers (out of 3). Including Meta and Amazon. And I was horrible at 2 of the interviews.
The party is over for those who got in tech just for free money and free smoothies. Now it's for those who actually love tech and have talent. And it's better this way.
@@elagrion congrats!
what’s your tech stack?
I have been trying to get a job for four years now for this exact reason. Things are too unstable and I want to be able to provide myself and my family however I can't get the capital to do it. So i am stuck in limbo hoping that things will get better for me to make the necessary moves. I worked in another industry and by the time I upskilled to make the move to tech the economy tanked, the war in Ukraine, hiring freezes etc and now i am just hoping for that chance. Now i am waiting to see if things will get better after the election.
I'm sorry to hear that brother. Moreover, forgive me if you've heard this advice before. A great place to start is to just analyze where you're currently at. For example, make a checklist and make sure you have one of each, a portfolio, a resume, a linkedIn, and a GitHub. If you're missing any of those, or what you have is not very good, that's a good a place to start. Second, it's super important to submit job applications every single day, 5-15 depending on how time you have. If you do this consistently, and for a long enough period, eventually you start getting interviews. In so far as the market, a sign you can look at to see when there will likely be more job opportunities is to track when the Federal interest rate is lowered and money becomes cheaper to borrow.
@@TechIndustryAnalysis Thank you for the advice. I have the linkedin, a portfolio. I do not have a Github but I will start working on that. I also will start the 5 -15 applications per day. I was doing 10 applications a week but I see the thought process behind this. I do have a couple of questions. So in 2019, 2020 the interest rates were low from the fed; is this why their were so many jobs? When the rates go up is this why layoffs happen?
You can always find exceptions, but from what I've researched, yes. Jerome Powell, the head of the Federal Reserve, sets the rate. The trend I've seen is that when the interest rate goes up (meaning money is more expensive to borrow), there is a general economic slowdown, often resulting in layoffs. Vise versa; when the interest rate goes down, money becomes cheaper, and this generally creates a downstream effect for businesses to start hiring again.
Lowering interest rates has its own dangers, but I'll leave it at that for now.
Got a video on the topic here to as well, please watch if you'd like:
th-cam.com/video/xnX09p3xRQU/w-d-xo.html
@@TechIndustryAnalysis I wanted to thank you for the advice as well as the video on the interest rate. This was a huge help and gave me a greater understanding of what to watch out for. you have been extremely helpful and your channel is very informative. Even though i am not a coder or anything the information is greatly appreciated.
Jamie I would just keep sending out resumes, non stop. There are lots of opportunities, something will hit. In the meantime, deliver pizzas until something hits. Drive for Uber until something hits.
Are these the same people bragging on TH-cam that they were making 150000 to 250000 a year.
Some yes
I've been looking at the comments, and I noticed I have a super-intelligent audience! I'm glad we're connecting on these ideas. We're stronger together.
Oh boy. The party is truly over.
Super important to have a back up plan
I graduated from a tech school in 2000. Yes, right as the bubble was in full on free fall. There were no jobs let alone tech companies. Then right after that we got 9-11. I hand walked my resume into a lot of companies so that they could put a face to the name. Wasn't until 2003 that I landed my first role. Then in 2008 every single person lost their job and at minimum 50% of their net worth.
Just this month I have five recruiter emails asking if I want to quit my job and move to another tech company. Today is still about 10,000x easier than what we lived through.
Just sayin.
Not at all, I appreciate the context
Many jobs out there but they are garbage pay and garbage works. Any good and decent jobs will be kept for nepotism only.
That's correct.
This!!!!
I'd recommend to keep sending applications. Also, ask for the money you actually want. Just make sure what you're asking for is in the range they're willing to pay.
God bless
@@TechIndustryAnalysis if I had to guess, all 370,000 are working again in IT, elsewhere. And if they were laid off (fired really), not really having anything at all to do with their performance. Their company is doing bad. So they don't really want that job anymore anyway. That said, the H1B is real problem here.
@@paulcolburn3855 Interesting. It's true that firing at a massive scale (non-performance-related) usually reflects a company's poor financial health. I often miss this point.
It s way harder to sustain a business or side project.... Wtf... A personal project isn't stable for 95 % of people...
@@YasinPatwari-kj6od fair point, I’d argue you have better upside, and control when you reach success from your own work
Yes for the 5% that can do it long term successfully
@@YasinPatwari-kj6od@YasinPatwari-kj6od Yeah, 5% is tough; it depends on an individual's risk tolerance. Some people might take the shot at 5% if it means getting out of 9-5. But that's not for everyone, and that's cool too.
Will it continue or there is hope for some bounceback? What else a techie do in such a scenario?
Yeah, we may see a potential swing to the upside once the federal interest rate lowers and money starts becoming cheaper to borrow.
We are cooked!!!
@@mr.random8447 there is still opportunities, just gotta work at it more
too many cuts in your video bud. you can't seem to get through making a point without 5 cuts. reduce the cuts and the video quality will improve
@@ManagementManagement-vu1mk
Thanks for the feedback 👍
btc to 100k tho lmaoooooooooooooooooooooooooooooooooooooooooooooooo
🟠 🟠 🟠 🟠 fr fr