Where Thousands Of Tech Workers Went After Mass Layoffs
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- เผยแพร่เมื่อ 24 พ.ค. 2024
- Tech companies shed more than 386,000 jobs last year and in the first half of this year. And that number is climbing. But while layoffs have taxed workers, a booming artificial intelligence market is giving the industry a renewed sense of optimism. Generative AI startup deals announced or finalized In the first quarter of this year totaled more than $12 billion compared to about $4.5 billion invested in the space last year, according to PitchBook. Amazon, Alphabet and Microsoft have also made significant AI investments. So how have layoffs impacted tech workers and what will the AI boom mean for their future? Watch the video to learn more.
Chapters:
00:00 - Introduction
02:49 - Layoffs
06:23 - A.I. Boom
09:48 - What's next?
Produced by: Shawn Baldwin
Edited by: Nic Henry
Camera: Andrew Evers
Supervising Producer: Jeniece Pettitt
Graphics: Jason Reginato, Alex Wood, Christina Locopo
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Where Thousands Of Tech Workers Went After Mass Layoffs
I was a software engineer at a startup until I was laid off in February. My severance package was only 2 weeks of pay and I've been living off unemployment since then. Over the last 6 months, I've seen the job market just get worse. It doesn't help that the average hiring process just for one position takes a month or more in most cases. AI isn't going to save us because most people aren't going to take the time to understand how it works. 90% of the companies that claim to use AI in some revolutionary way are just using basic automation and job scheduling.
Hope everything works out for you.
Employers have raised their hiring qualifications and screen levels now. Before they would have 50-100 qualified applicants and start the weeding out process. Now it gone up to 500-1,200!😂
Bum
This is hard and I feel you. May you come out stronger and become a job provider too.
So who is going to save is frpm AI?
I got terminated in 2019 and it was because of my age (60). I was taking longer to learn new tasks and do things than my millennial co-workers, plus I wouldn't go drinking and partying with them during and after hours (I have a family, they don't). Of course, after COVID hit, I couldn't find work (ageism is real in IT) so at 62, I officially retired and haven't looked back. Lost 40 pounds, got healthy, reduced 80% of my stress, and finally feel free!
Ageism is a super big problem in tech, I've had to watch my dad struggle with that himself and I really feel for him. I wish he could hide his age in some way but with the way his resume has his experiences listed, it's not hard to count backward and guess that he's middle aged. It's sad too because he's so well read and knowledgeable, one of the smartest software engineers I know and he's literally taught my tech friends in college when they were stuck in comp sci. His age and knowledge is a strength but corporations only see all us workers as disposable parts. :((
Hi I need to talk to you regarding how is tech career nowadays , I sm from india and can you speak in webinar ?
My grandpa was a retired doctor and is 72 still making more money than faang engineers in my country by starting own clinic at 60 . In medical profession ageism does not matter I think
Good for you! Best wishes moving forward.
You didn't go drinking with them? Everyone knows you gotta bro' down or you go down.
I've been in tech a long time... these companies have no loyalty to you, but they expect you to be loyal to them. Tech is inherently unstable, so remember that when you negotiate salaries with them.
Every large company is like that, sadly
@@r-uu2qiyeah, but ppl thought tech was all sunshine and flowers after being in the pandemic. It’s always been known tech is very fast my changing, if you’re skills are even 3 years old, it’s old and you’re on the chopping block
@@r-uu2qi Not Wall Street. At least Wall Street is honest about making MONEY. Silicon Valley PRETENDS that everything is for the good of mankind.
The layoff problem is more severe in the US than in many other countries - see 11:28.
I still vividly remember my (first) job at Suzuki Motor Corp's Indian subsidiary in 2008. During the economic downturn when most companies were conducting layoffs, the company did not dismiss a single employee. Instead, they encouraged everyone to propose cost-saving ideas and prioritize capability building. Additionally, they even brought in some senior professionals who had been let go by companies like GM and Chrysler!
The severity of layoffs in the US can be attributed to its more capitalist nature compared to many other countries.
If you've been in tech a long time then you'd known for a long time that IT (noone calls it tech back then) people job hops ALOT. it's not uncommon to see people having a new position every year or so. It's only a problem when it's you at the end of the stick. Even then you have severance package to soften the blow. I just don't see why they complain.
Im a senior engineer and I interview a lot of good people and my company makes up reasons not to hire them. so I definitely understand how hard it is to find a job right now. Good luck out there folks! We’re definitely in a recession and no one wants to announce it
Let me guess it’s usually when they look like they skip jobs a lot or are currently unemployed?tech employees are different
Seems like they are just wasting your time, and being very inefficient.
After being laid off 4 times in a 20 year span in tech, I said F that and started my own non tech company. Couldn’t be happier. Tech lures you with higher salaries, but you are simply a commodity, not a human
What do you do now?
Have you laid off anyone yet?
That's most jobs TBH
The slave becomes the master, and the cycle continues...
Only 4 times in 20 years? You're lucky.
There was a time when we " made it here", we had jobs for everyone and the products were of high quality, then the 1% wanted everything. Now Inflation drives prices up and if Inflation is high and jobs disappear by the millions we are in a recession and maybe headed for a Depression…So be careful with your money. It may take decades to get back on pay again. Luck to all..
On occasion you can beat the market with blind luck, but I wouldn't depend on it. Having a science background there is a saying, 'Luck favors the informed', I've found it to be true, allowed me in great part to retire early...
I’ve seen both sides of the coin , I was investing on my own for about 3years, did my own study and analysis before actually buying, things became rather difficult after the pandemic which was right about when I reached out to an advisor for guidance, It’s been over 2 years and I’ve scaled up a stagnant reserve of $280K to $700k in just about 24months.
@@mikeroper353 interesting. I've a lump sum doing absolutely nothing at all in my bank account, i wanna gets something started with it. You seem to be doing excellent for yourself, how do you achieve this?
Thanks for this buddy. Her website popped up on the first page immediately I searched her, I read through her resume and Did my due diligence on her before leaving a message. So, hopefully she replies soon.
"The 1% wanted everything."
Sorry, but that's a sophomoric conclusion.
Debt obligations = inflation. This is what happened when you allow everybody + corporations to have artificially low interest rates AND allow them to ship all the jobs overseas.
Reaganomics + NAFTA + bad Federal Reserve policy.
My issue with this whole situation is that these tech companies didn't even have the decency to let folks know that they are out of a job - some got an email that they were let go, others didn't find out until they got to work and their badges didn't work and there was a sign on the door.... that has got to be one of the most COWARDLY things I have ever seen/heard! Folks want titles attached to their name (e.g., GM, CEO, Director, etc.) and so they should be able to do the *GOOD* and the *BAD* that comes with said title and be able to stand in their sh*t!!
Not an easy thing for a company to do.
Yup - although, I'd phrase it "decency" - "didn't have the decency".
I would say, in fairness, this isn't so much about tech, but about scale, AFAIK. Having gigantic corporations with GDPs that surpass those of many countries is problematic. Not merely when it comes to "traditional dangers" in capitalism like oligopolies and monopolies, but even more simply in direct "people" terms. Humans start hitting our significant human limitations when it comes to organizational structure, forces both internal and external, etc., as scale ramps up. And, all of the software tools, ideas about "the paperless office", professionalization of management (MBAs), etc., seem to increasingly barely keep the people trying to "manage" these companies, themselves, from effectively drowning. Even worse, these same tools and skillsets and such then tend to result in even larger sizes being reached, complexity increasing further, forces increasing further and becoming potentially more conflicting / contradictory ...
In my opinion, the notion of "MBA" and concepts like "fiduciary responsibility" have BECOME a problem, even when, initially, they helped solve problems that were inhibiting productivity and efficiency growth, for example.
But, really, the core problem is - it's a neverending cycle ... a "vicious cycle". We continue to engineer the world towards a kind of decrease in "humanity". In the "human scale", in aspects that are oriented towards what humans are good at, what improves our well-being, etc. This is a trade-off, in the sense that the growth, "progress", and various other aspects more optimized by the sort of dehumanization of "professional management" and "massive scale" have generated improvements in standard of living, availability of goods and services for people, etc. But, it seems likely (and certainly guaranteed on a long enough timeline) that we are or will be in a more outright "net negative" situation at some point. Arguably, indicators like the declines in average lifespan in America suggest we're tilting into that net negative already, and it wouldn't surprise me (though I don't know what the research says in this) if we've been tilting more towards that direction for even a couple of decades.
All of this reminds me of a line delivered by "Samuel Gerard" (Tommy Lee Jones) in "The Fugitive" - "... did 7 1/2 billion dollars in net sales last year alone. That company is a monster."
There are monsters among us - corporations like GE, for example, may never have looked like "teddy bears", but today's companies make the GE of 70+ years ago look downright cuddly in comparison.
Yeah, no matter why youre doing lay offs, that is not necessary to be that ruthless and cold about it.
@@clagueb3686 companies are obligated to give NOTICE. NO EXCEPTIONS.
Anything else is worse than the time Wall Street caused the 2008 recession.
This goes to show that Wall Street at least doesn't pretend to save the world. Silicon Valley is delusional woke.
I used to think this but now I work in cyber security industry and handles multiple incidents of people trying to leak or exfiltrate sensitive information of the company when they are told that they are laid off. So from a security perspective, it should be the way to go.
I was fired from three software dev jobs over my career because I had a side used car business and the employers found out and did not like it. I always had good reviews and it did not affect my work. 15 years later after alot of hard work, I have a six figure job and now also make almost six figures off of my side business. All three of the companies where I was fired have either went completely under or had massive layoffs where I would have lost my job anyways. Work for yourself on the side somehow, and always have multiple streams of income.
How was it running that car business while working full time? I assume you hired a person there to run it?
Sure however we can't just magically make other forms of income. Glad things worked out for you but this overwhelming ability to not have some perspective when telling people to just do something is unfortunately not very helpful at all. Your line of work is critical, as is your location. For creatives? We're screwed.
Otherwise, might as well tell people to go find money... Somehow.
"Somehow"...well, exactly. That's not how things work.. somehow. :)
Good for you. I was definitely afraid of starting a business but the instability of being laid off several times in 2022 and 2023, I’m rethinking my decisions.
@@simonmaduxx6777 start with something you enjoy or are good at it doesn't have to rocket science. And you don't have to always reinvent the wheel. I delivered fresh fruit to gas station twice a week, people laughed at me sometimes but little did they know I made 60k a year. Not a bad side Hustle.
Best advice on here.
Graduated with a master's degree in Communication in April (tech was my primary study focus) and let me tell you this is the worst time to find a job since 2008. Submitted 125 applications. 4 interviews. One 2nd round interview for a job I didn't get. If you have a job right now do whatever you can to keep it.
You mean a tech job specifically right? Cause the rest of the market seems desperate for employees.
@@jonjeskie5234 This is primarily a pool of jobs working in staff and administrative positions at universities, customer service roles, non-profit jobs and tech jobs at startups and corporations. While I haven’t found what I’m looking for yet I would hope to be paid enough money to afford an apartment at market rent and a modest ability to afford goods and services. If that job doesn’t provide someone with that ability I personally believe it should be automated or eliminated. I worked at a grocery store for several years and a cafe for several years as well. I don’t mind working ANY job as long as I’m paid adequately for my labor and value.
yeah they are begging for people in my field. and I didn't have to spend all that money on college. a trade is the way to go
Are you applying for tech jobs or human resources jobs? I feel that hr jobs are a lot harder to get.
Well, we are SEVERELY short staffed as heck in healthcare in nursing and related fields...major shortage...so there are jobs that need filling, just not fluffy office jobs. Lots of skilled trades are so short on people too they are making bank.
If you already have a bachelor's degree you can go to get your RN in a couple of years as most pre reqs are done. If you want to be a tech/CNA of some sort its usually just a semester or two to get a cert.
Skilled trades lots you can do if you take a year or two as well.
Things are out of whack and we have far too many "starbucks degrees" when we really need people that do real things. As more boomers retire from trades etc this disparity will become even more obvious. There are jobs in other words, just maybe not the ones that you want, but the market dictates what it wants not us. It is our choice to follow the market or not.
10 year engineer here: AI in most companies is nonsense currently. Companies are scaling back because they all way over-hired, expecting way more growth from the pandemic. Summary of this video.
Needed this, 4 years of unemployment after graduating as an E Engineer. This made me panic less.
What will save the tech industry is the hiring managers, hr, and talent acquisition personnel stop trying to find unicorns for roles and hire personnel that’s willing continue to learn and develop new skills. Companies need to continue supporting their employees
The tech industry was hiring anyone that competitors might want so they definitely weren’t liking for unicorns. There are many stories of tech new hires being paid to do nothing.
@@rapfreak7797True story. Nobody replied to any application until I had a bigger company on my resume, and instantly I got offers left and right and literally nothing changed except my resume.
Tech employees jump from one company to another in span of 6-12 months just get more perks and pay raises when times were good. Tech companies just paying theses employees back now with layoffs!😮
@@Agent77X they’re starting to experience what everyone else has always experienced
"continue" .. ?.. some companies never did and need to "step up" and START supporting their employees.
I was one of the people who moved from NY to CA for a job opportunity as a software engineer. After spending a great deal of resources and time to move, I was told one week before that my offer would be rescinded.
The company ultimately paid for all expenses for my move back, but the stress and anxiety I felt made me never want to move somewhere for a job opportunity ever again.
Ive been unemployed since and struggling to find work, seems the places I am applying to are only taking the younger developers fresh out of college willing to work for more entry level salaries.
Since then ive had to sell my car, push back my goal of purchasing a home and limit how much I eat out.
I feel for all my fellow job seekers who are struggling right now. There will be brighter days ahead. Until then , keep applying and keep building up your skills to stay relevant in the field.
you shoulda moved somewhere else, TN is cheap right now and actually experiencing a mini boom
Any job is better than no job. You should take the junior place, keep your skills and experience fresh.
Panda Express is hiring
Start your own company. Do not work for other companies.
@veerkar easy said than done!
AI is an overpromise and underdeliver. It will be a useful tool but people need to moderate their expectations of exactly how much can be automated by it.
that comment is going to age well.
Unlike crypto, the allure of automating everything is almost too good for bean counters
@@brentclothier2369😂 right?
@@Demopans5990 until the bean counters get automated.
@@Demopans5990 most ignorant comment, smh do you know how to code?
video didn't answer the questions -- WHERE DID THEY GO?
They didn't. They took the money they used to pay people and stuffed it into wall streets pocket
The videos is asking us and tell in the comment. Nice title to get view minutes for TH-cam to get paid.
Luckily, I leanred from clickbaitology to skip forward to the parts that have the most viewage. No parts gave the answer.
They went to this video's comment section
@@cassanateliyep telling us all how they have been unemployed for 6 months blah blah blah 😂😂😂
This is how screwed up the corporate America is. Employees help company grow business and build tremendous value, but treated as a risk and a disposable asset. Meanwhile, executives are getting compensated exponentially more every year, like 200x more, even with a recession in the making 🤷♂️
The executives *are* the company, not the employees. The employees are merely labor hired by executives for their company, the same way we hire a landscaper to make the lawn in our house look nice. Once the lawn work is done, we pay him and tell him bye bye. It is the homeowner who gets accolades for having a nice lawn, not the landscaper guy.
It is the same thing in business. The solution is for employees to start their own businesses once they've gained enough skill. Only then should they start feeling attached to "the business they help grow and build tremendous value."
@@JasbirSingh-zj1fg Get out here with that crap! History is littered with cases where executives drove successful companies to the ground, get fat bonuses for their lackluster performance - the so called "golden parachutes" - and then leave to some other company to try to do the same over there whereas the faithful employees and the suckers shareholders that believed in them in the first place are left behind to clean up the mess. Employees are literally the life and blood of any successful company and any manager worth his salt knows that.
Time for these laid off employees to form their coop.
@@JasbirSingh-zj1fg
Lol! You funny! 😁😁😁
You must've just got out of your business 101 class because the powers that be really got you brainwashed.
Saying the execs are the company is like saying the coach is the team and not the actual players.
Anybody can start a business, but it will take a whole lot of luck for it to be successful. Hard work alone guarantees absolutely nothing except in the movies 🎬. 😶
Easy to hate the system, but that is what made America is
In the previous year, over 140,000 jobs were eliminated from both public and private technology companies as they grappled with the challenges of increasing inflation and a volatile stock market.
Currently, the stock market is experiencing significant volatility. However, by making accurate calculations and strategic decisions, you can navigate through this period successfully. Bloomberg and other financial media outlets have reported instances where individuals have gained over 250k within a few weeks or a couple of months, indicating potential opportunities for wealth transfer during this downturn if you know where to focus your attention.
Anticipated sectors such as transportation and e-commerce are predicted to undergo growth, among others. However, it's important to note that the market has been filled with unexpected twists and turns.
I have learned from the market uncertainties of the past, which is why I no longer rely on rumors and hearsay to make my market judgments and decisions. In 2020, I made the mistake of holding onto worthless positions, but with the guidance of an advisor, I completely revamped my portfolio. It took some time before I started witnessing notable improvements in my portfolio's performance. Since then, I have continued to work with the same advisor, and within two years, I have successfully scaled up my investments by 750k. Whether the market is bullish or experiencing a downturn, both scenarios can yield profitable outcomes-it all depends on where you focus your attention.
Having a counselor is crucial when it comes to diversifying your portfolio. The advisor I work with is *STEPHANIE KOPP MEEKS* , who can be easily found and possesses extensive expertise in the financial markets.
Right, but in 2022, 267,000 new jobs were added to the IT market. Source: Computer world.
One thing people need to remember is that the "Tech Sector" is not just "Bro-grammers" and Startups. If you're a more traditional "IT guy" (Sysadmin, CyberSecurity, Infrastructure, Support, Networking, etc).. you're likely on a bit more solid ground. Last time I was laid off, was about 30 years ago.
how to best get a traditional IT career?
Yes its pretty solid.
Glad someone mentioned this. I’ve done infrastructure support most of my IT career. I’m in cybersecurity now.
What websites you use to find more networking and IT jobs?
Is cybersecurity really not affected but for how long!
Retirement for some people becomes their bondage in poverty because they failed to invest with the little they have on their active years of working, this is an error we need to start working on now, I’ll advise that while you still can work and earn also take some money aside and invest in your future after retirement so this classification won’t have to be yours
You are right.!
That is why I had to start forex trading 2months ago and I now am making benefits from it..
I'm glad I was introduced to forex trading and got the best teacher and mentor who helped me understand the financial market l'm grateful to Mrs Shanita 🙏🏻
A common mistake we newbies make is venturing into the market without help and legit guidance
O' Yes I'm a living testimony of Mrs Shanita Creswell.!
It's also worth noting that more jobs are remote now and with that you're competing with the entire country and not just the handful of folks in a 25 mile radius of the company. Companies are flooded with options and the more options they have I think the more unrealistic their expectations become. Standing out has become increasingly hard.
The current interview structure is beneficial for companies but sucks for applicants. Literally 4 or more rounds of interviews to get hired. It's a ridiculous tournament structure. Basically, it's Squid games in these streets.
No one talks about how the industry is not willing to hire new grads. It's so hard to get a start in the tech industry today for the exact reason that co-founder mentioned. Thousands of people applying for 10 positions. There's 10x more new grads every year than jobs for them.
Jeez I remember a few years ago everyone was saying you were guaranteed a job with a CS degree
That wasn't the case for at least 5-6 years. Nobody was guaranteeing the job. The best bet for grads to get into are going through internships. And it's more of these right now than it used to be.
People are blindly expecting that they will be taken graciously with their degree when in reality they should have made a research and see that it's barely going to help on its own.
I'm self taught and I drink new grad tears for breakfast. No one owes you anything, go be a Starbucks barista.
Once ww3 happened we need drafted all young college kids to front line
I was laid off in May. The market is absolutely crazy right now. I'm very experienced and get at most 1 interview a week. I've started making my own stuff because applying to hundreds of jobs at this point has been a waste of time.
You have to love how they call laying people off being efficient. I'd say it' the opposite. It means poor planning from leadership and no plan if the economy took a dib. This just illustrates that the people on top only care about money and not the tech workers.
The people at the bottom only care about money and not the tech executives, isn't it?
I got tired of sending out applications for tech jobs as well. 97% ghosting or rejections. 0 offers in almost 1 year.
@@jcantonelli1 have someone check your resume. I know most software engineering students get job offers BEFORE their graduation. have someone check your resume. you are the 1% and you can demands any pay and schedule that you want.
@@leepialong Unfortunately, I'm self-taught and 41 years old. I believe myself to be a very competent developer/analyst, but I just don't seem to draw (interest) on paper in this market.
@@jcantonelli1 well even for self taught, you should be employed by now. If it doesn't work out, go to trade be an electrician etc... don't let your pride in your way of success.
I am SE from Europe, things are not very bright right now. I applied nearly 200 jobs last month only got 2 interviews and both company ghosted without reason after first interview. I was blaming myself, but i talked with some of my engineer friends and heard same stories. Yesterday i talked with senior HR, he told me that exactly this: "I had been doing this job since 2006, and i had never seen a bad situation like this in IT sector." Honestly this is the last month i will look for a job, and than i have to look for alternative jobs because i need money to live. I have been unemployed since june :(
same here in the US. I have been unemployed since March.
Did you have any luck?
Unfortunately, I have not and will also need to look for alternative jobs starting this month.
:/
What do you plan to do? changing careers?@@jcantonelli1
what do you think an alternative job that we can do? being uber driver? delivery driver? is it good enough just for our daily needs?
@@g_pazzini Uber in my area was paying $15/hour average, but my highest pay was $50/hour (only for two hours)..
Most of this is done solely to make corporations appear more profitable before a new quarter begins and as long as a fiscal year has better numbers than the previous year, shareholders are onboard.
Shareholders demand
That's why I'd rather buy tech stocks than work in tech
With cheap money gone they needed to get rid of the Covid blot and the right thing to do , a lot of tech companies keep employees just so they don’t go work for the competition
Yup so shareholders can make money for doing nothing.
@@weird-guy someone watching silicon valley
I was tasked with training a recent college graduate who had just joined the company. Ten months later, the company unexpectedly laid me off, while retaining the new hire.
Same
I have many friends from tech workers who have been laid off for months, some of them since last year. None of them either made their startup or found a new job. Some of them traveled or moved abroad. Some of them are in the gym all day here in NYC or somewhere in coffee shops.
Cause they have no hard skills like programming
If you have programming skills there is no better profession today than software
No it's because of these Tech are all on high salary and high location cost... here all jobs coming from NY to TX... did you guys tried to come to Texas to work on less salary, less doesn't mean below market standards or property line.. it means as per TX standards... I am in Tech in Texas, Dallas... here market is very good. Wanna try here ??..
@jagadishranbir4970 Sure, any contact or email? so I could pass it to them.
If people can afford gym memberships and coffeeshop coffee after getting laid off, then I would say they came from high paying jobs and have enough savings to 'wait and choose' their next - equally high paying job. If I got laid off, all these additional expenses like gym, coffee shops etc would be the first casualty.
Greedy CEOs and managers don't understand AI. It does not mean you get to layoff your engineers. Plus if you deal with sensitive data, it will be a breach of privacy.
Safer than a Wells Fargo employee having it 😂
Microsoft 365 copilot charge $30 per employee per month to keep the company’s data private as ChatGPT helps with Excel, Word, PowerPoint, and so on…
Most that were layoffs weren’t engineers and the ones that were engineer is because they probably sucked
Or maybe you don’t understand business? 🤷🏾♂️ Think of it like this. If AI works out, they win. If AI doesn’t work out, they hire engineers again. What are engineers gonna do? Say no? LMAO.
Maybe one day I won't have to do an 8hr take home assignment just to get a chance of an interview.
Right???
I am in sales tech and I got laid off a few months back. Am just enjoying life and living off my severance and unemployment and got a girlfriend during my break since I got more time. But jobs are mad sneaky now. Fake posting, fake salary in first call to bait you to do projects and then lie about the salary during final call. It's too competitive now with low pay. Thank god I have tons of savings from my years of working, but I wish I worked harder when I had the opportunity. I am desperate for a job, but I will not work for a job that I feel dreaded every sunday like 7 years ago because I have the power now with my racked up savings.
1º Get laid off because of a bubble bursting
2º: Get hired at the start of the AI bubble
3º: Get fired because the AI replaced you.
Why are layoffs usually followed by huge CEO bonuses?
Because the layoffs took cost out of the business and made the bottom line look better. Ergo, CEO is doing his job.
Because those bonuses are usually promised beforehand, typically when they were hired.
Also, because layoffs are often viewed as a good move by the CEO by the shareholders. Good bois get rewarded.
Because our system has screwed up priorities. People that don’t even work in the company are getting paid by the company based on profits. If profits are down, lay-offs make them go up and share holders are paid. This isn’t actually good for the company or the economy, but it’s good for the shareholders.
Slave and slave master
Techies always say the next big thing is the next big thing….until it isn’t.
Truth
Yup. VC likes to talk big but really it's just the luck of the draw
That's how everyone works, buddy.
Recruiters / Talent Acquisition absolutely got hit the hardest. The best spot to be right now is pre-sales engineering. I've had much better luck than the recruiters after getting laid off from Google in January 2023. I applied to over 150 jobs, got 25+ screeners, 8 final interview rounds, 5 rejections, 1 ghost, and 2 offers.
What is pre-sales engineering, if you don't mind my asking?
@@ClickBeetleTVwould also love to know
@ClickBeetleTV it's actually a contract position. It's all cyber security. This is the only market where there will be a opening. Every company wants there data protected and they don't want to be paying ransom.
@@Menga213 Plenty of pre-sales engineering job in B2B (business to business) companies. Any complex products that needs customizations, are split into licensable modules etc. need these type of people to run daily operations.
Be warned these pre-sales jobs are not as comfortable as developing mature products. However, any port in the storm, I guess.
I've been in the tech industry for a while and I'll give you a glimpse of what our leaders think. They don't need any more applications, they need more data. This is why there are cuts.
Remember when they said "Learn to code"? They can learn to mine! 🤣
Learn to plant. People will always need food.
People also used to learn at least one foreign language...😊 Good old days ❤
Learn to dig ditches.😂😂😂😂
I still remember a recruiter had reached out to me just before the mass layoff and assured me that despite the market Amazon is going strong...3 weeks later I saw his post that he had been let go...
I think they need to take into account population growth (as well as new people entering tech) vs tech job growth. There's not nearly enough jobs for the number of people wanting to break into or stay in tech; and if AI is as good as it's promise it's going to lower the number of potential jobs overall. My suspicion is that in the future it's going to be harder and harder to get into tech and/or there will be an increase in lower paying tech related jobs like data labeler/annotation specialist. That 2% unemployment in tech only tracks those who are already in tech not those who want to go into tech like new grads or career switchers.
there are several problems aside from not enough jobs, it's idiotic companies that expect candidates to magically appear, they are not proactive, when Disney couldn't find enough animators he opened up a school. if you want the talent you have to build them, another reason things are so bad, companies don't want to do on the job training, they could easily train someone to do whatever job they want in the amount of time it takes them to find that magical candidate but none are willing to put in the work. furthermore tech companies are not even looking for entry level candidates, they are mostly looking for those with 5+ years of experience, the differences were like 60% vs 8% and around 20% for mid level roles
And only counts those who qualify for unemployment, which isn’t close to the number of actually unemployed.
Most of the tech workers are in it for the money. If they can’t keep a job they need to go back to their communication degrees since they didn’t work hard enough
The IT industry is over saturated with employees it doesn't need. Literally 80% of all the real work is done by 20% of the employees.
So never mind there not being enough jobs. There are too many many unnecessary workers with jobs being paid to just show up. And you don't even have to do that if 100% remote. 😶
Most people who want to get into tech do it for the money and will not succeed. At least 50% of my university colleagues think they will be rich and this is the only reason, but they know nothing and can provide no value to a business. They re not driven to learn, but to get the degree and get hired😂. I have been working since the first semester of university and everyone only asked me about money and job title, but no one asked me what to learn to get there quicker or how did i do it so quickly. Don't worry about new graduates. Not yet
I've been a software consultant for many years and my informal measure of job openings is how many calls I get from random recruiters weekly. FWIW the number has been rising. Incidentally the hundreds of thousands of workers in transportation, aerospace and military software jobs were never affected by the general tech worker layoffs.
Specifically, which roles are these recruiters looking to hire now?
To write code that runs logistic management systems or avionics or military stuff, you need to do actual real engineering school.
Europeans make a good distinction between "Informaticien" and "Ingenieur informaticien" and "developpeur". A developpeur is a developpeur, an informaticien can work as a developpeur or an analyste or whatever else, an ingenieur informaticien is an informaticien on steroids, these guys usually have a genuinely solid applied maths education and they are the kinds who write code for aircraft avionics or other highly complex stuff like trading software or military cyber offense/defence tools. The key is that an informaticien is trained to have a deep understanding of software while the ingenieur informaticien is trained to deeply understand the software, the hardware, and whatever real-world process/systems they are manipulating. It is common to find the ingenieurs informaticiens doing 40+% of their education with the electricals, the mechanicals, and the applied physicists.
I started my career in the insurance industry, as a field agent, 30-years ago, and within several years, saw the writing on the wall, insurance co. websites would replace us, and they did, and now, AI is replacing the agents and customer service staff in the corporate offices. Fortunately, I went back to college, got trained in something else and have been working in solar and wind, for nearly 20-years now, which will be a strong industry for the next 15-20 years, until we reach 100% renewable energy. I'll be retired by then.
What exactly did you study back in collage?
@@RAC91nothing he totally made this story up. I’m a master electrician so I’m also curious what he supposedly studied in college
Renewable energy course or environmental engineering degree they exist in my country
AI I pulls from human beings and now a lot of AI is feeding off of other AI and the work that it's putting out is messing up!
Over the years we had enough mass layoff's at the company I used to work, that by the time it happened to me, I wasn't even surprised.
Luckily I survived head chopping in early June where 50% of dev team was fired on a project I’m working, just….like….that. Companies are ruthless, there is no humanity in IT whatever they say about “Company Culture”.
Does anyone remember when there were a ton of articles about how recruiters were more valuable than engineers? It is very fascinating to see how the narrative has changed.
Who the hell was saying that!?!? That's a ridiculous batsh*** statement.
I didn’t heard it was CNBC?
Can't disclose the company i work for here, but the recruiter pay median is higher than tech median pay.
The recruiters are not tech workers
How do you think tech workers are found? Companies pay sourcers (head hunters) to pull skilled workers from competitors.
Either you don’t know because you’ve never been recruited and are of low skill level or you slept with a recruiter and she burned you 😂
For these tech companies to bloat their workforce that much due to temporary economic conditions just seems irresponsible and reckless.
It's very bad leadership, but then the leaders become billionaires while firing people.
It was essentially a dirty bulk and then cutting. They knew what they were doing. I'm surprised someone working in tech wasn't smart enough to see it coming though...
@@hardlife507thats because we're not business analysts or economic experts. No one is going to really know what the agenda is unless they understand business and economics.
Sheesh, if they didn’t hire you, you’d be complaining that nobody ever gave you a chance and employers expectations are unrealistic, etc. A handful of experience and steady income is better than no experience and income.
I got laid off from my software engineer position at a large tech company at the end of last year. I spent 6 months applying to more than 3000 jobs before I landed my current job.
With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly-which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stocck portfolio…
very true, I started investing before the pandemic and that same year I pulled a profit of about $600k with no prior investing experience, basically all I was doing was seeking guidance to make a from a financial-advisorr, you can be passively involved with the aid of a professional.
wow ,that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.
Gretchen Marie Hostetter
That's my licensed Financial advisor you can easily look her up, Thank me later!
Thanks, I merely looked her up on Google and was highly impressed by her credentials; I got in touch with her because I need all the help I can get. I just set up a phone call.
who cares
We also need to disincentivize jobs being shipped over seas. I worked for a company that laid off almost all software devs to then open those jobs up in India and Brazil
Exactly. To hell with those brown ppl, amirite? But to be fair, if you aren’t allowed to hire them, then you shouldn’t sell to them either. Go ask those tech giants to roll back their operations in those countries.
They do it for lesser money, experience, overtime work. Perfect candidate for big companies.
Imagine being one of these employees let go by Meta and seeing the stock price skyrocket since the start of the year. Salt in the wound for sure
The stock of a conpany not always reflect the perfomance of the company
Imagine being a communist...🌻🥰
Some get stock as bonus
Why do we need to put our 2 weeks notice when these billion dollar companies don't bother?
@sunnypalm7648
Some high paying companies do. Others may give a months severance some only give till end of pay period
you don't, you can quit at any time, the US is an "At Will" employment country, you can quit in the middle of working if you feel like it, equally they can fire you whenever they feel like it unless you have a term agreement in your employment contract, in which case they can still fire you but you can sue for compensation
@@Zuranthus thanks for the clarification :)
Because of capitalism.
It's a top/down hierarchical system. The capitalists set the rules and establish systems to keep the rank and file in check. That's why every company on the planet adhere to the same mundane rules.
So you don't have to but you will because your employer might hold a grudge if you need a reference.
Be lucky enough to not be laid off and you can avoid that part of the game 🎮. 😶
Technically you don't *have to* give two weeks notice. It's just a professional courtesy if you don't want to burn any bridges or may need their reference in the future. If you won a billion dollars and don't have to work anymore, you can most certainly walk out in the middle of the day without even telling your boss you quit. Lol
Tech is so unstable. I was laughed at as a 18 year old for not jumping on it during covid. Tech right now keeps moving forward so fast at a unbelievable pace, high skilled workers become common skilled workers every new cycle when new grads enter the workforce. Remember when IT and computer building was seen as a good job? Now there are millions 14 year olds who’ve built their own gaming PCs and you can fix almost all computers issues with a 15 minute TH-cam tutorial. When you work in tech you NEED to be the best and fast to adapt. It got oversaturated quickly full of low effort people and they got laid off, that’s the game.
facts
"high skilled workers become common skilled workers" only would apply if the said person does not keep its own data base updated, In the world of IT or Technologies said person or data server language model like GPT must be maintained updated and keep education flowing same as human, So you can learn how to use to maximize skill and further knowledge or be resentful towards it.
That has more to do with the technology maturing and prioritizing ease of use. Those 14yos wouldn't have been able to build computers 30 years ago. And good luck diagnosing DOS boot issues without a 700 page manual
@@waterisformlessHonestly it wasn't really harder to build a computer 30 years ago. A lot of it was still the same, socketed chips, PCI/AGP/ISA expansion, modular power supplies, socketable DIMMs, the works. It all still existed. There has just been more interest in recent times. It also helps that overall electronics resiliency to things like static electricity has drastically improved in that time, giving a lot more leeway in regards to how much you could feasibly handle a component without damaging it.
More widely available information than before, if you have the equipment or knowledge you can do almost everything by yourself
AI is so overhyped. If anything right now is a good time to short tech companies especially ones with an AI focus.
Love these tech CEOs take responsibility for the bad decisions but the employees always pay the price.
Hmm, so you want the employees to take responsibility for the CEOs failures too?
@@hellosammy4105 they take 'responsibility' anyways by getting fired (err, 'layed off') to compensate for the loss in the company budget 🤣🤣
Yeah, nah, AI sounds like the next tech bubble.
better invest before the bubble pops amiright?
@@smith2354 You never know how close the needle is to popping that bubble.
AI is going to dig the graves of the employees that help create it
AI will infiltrate every sector everyone laughing sitting comfy looking at tech is stupid
1 server to rule them all "canadian ehy?"
People think IT jobs are made of developers only. The field is so wide is mind boggling. Service managers, quality, delivery,scrum, integration HUGE.
In India after Layoffs in IT firm...
Many people moved into food industry...
Mainly the street food shop business ❤
The problem with AI is that it isn't a creatively capable machine...it is a simulation and emulation machine based on underlying datasets. Therefore there is a "status quo" bias or a targeted bias underlying its algorithms. AI may be a predicter based on these data sets but it is not a genuine inventer of creative thinking's outputs. AI is like a "cheater" copying the answers of a target student's answers...if the target's answers were wrong, then the AI's answers will be wrong or distorted with the same bias.
Bias and race-leaning as well…
Human creativity doesn't come out of thin air. There isn't a soul concept that infuses human with creativity. IMO the real problem with AI is that it is lacking any semblance of intelligence. It's just a big fake that hides the underlying statistical output. That output is not a product of intelligence. It's the result of parsing big data and querying it with statistical algorithms. The day we have enough computing power to actually tackle a real artificial intelligence it will have no issues coming up with new creative concept by combining existing ones in ways human haven't yet tried/think of.
As a programmer esp who has worked on AI projects, this is 100% rightly put.
The only downside for humans is, it's so good at cheating, that it can simultaneously cheat out of 1000 peoples content and present with a super content.
You're wrong if you're saying that humans have better creativity than AI. 99.99 percent of people can't generate super creative ideas like it did Einstein or Newton. Humans has same creativity as AI does. And that creativity just analysis information and outputs a solution.
@@Sueiei29737 AI can only copy humans after humans have done the work
10 years ago during the early 2010s there was a #LearntoCode initiatives going on everywhere about how everyone should learn to code. Now its no longer something that should be pursued. Software developers/ engineering jobs are starting to disappear and less job postings are happening. AI will only exacerbate the problem. Its amazing how something can drastically change, a fundamental paradigm shitf in only a decade.
Last two companies I worked for put a ton of money into automation and offshored a lot of work. The jobs in America that are getting cut aren't coming back.
That's what I fear will happen with the new push towards skilled trade initiatives that I'm seeing. As a younger tradesman I'm hoping I can work myself through my econ degree and get my master's license before new tradesmen move up that way I can have an established business by then, but I definitely feel like I'm being chased and I need to take the initiative to get out on my own sooner rather than later during this current skilled labor boom.
When it comes to businesses using programs in the hiring process, I must note that there are clear frustrations in it's use to vet prospective employees. It's hard enough to be the "ideal candidate" for a company's needs, but it's almost impossible when your CV/Resume is thrown out of the race by a computerized ranking system.
I am attending a conference next month where they are discussing using AI technology to identify strong candidates during the recruiting process. It will be a computer to decide if you are an ideal candidate or not.
they already do that with their ATS's, they tick some boxes and all resume's get scanned, if you don't match, straight to the recycling bin, ai is the candy coating on an apple, it's just there to look good
True
Some companies already use automatic approval
it's already applied in major corporates. But without meritocracy, it's impossible to tell if AI or human recruiter screens better.
If you aren't able to craft every resume for the individual job description then their filter won't even put you in front of the recruiter.
0:00: 💼 The tech sector has experienced significant job losses, with major companies like Google and Amazon implementing layoffs, while the AI market is booming and bringing optimism to the industry.
3:18: 💥 The pandemic led to a surge in unemployment, but tech companies initially thrived with remote work and online services. However, the bubble eventually burst, leading to significant layoffs in big tech companies.
5:57: 💼 Recent tech layoffs have been cushioned by generous severance packages, leading to the rise of new businesses in the generative AI space.
9:02: ✈ AI is expected to have a significant impact on the global economy and employment in the tech industry.
11:39: 💼 Tech jobs are projected to slightly lag the longer-term trend, but demand for tech workers remains high, with opportunities in various industries.
Recap by Tammy AI
I am here for the comments…all I here on this video is blah, blah blah blah.
“You kinda have to go out there and find your own job.” Isn’t that the whole point of doing a job search?! 😆
Yeah. That one was pretty stupid, should’ve kept it to himself.
The way Meta laid people off is appropriate. When I was laid off from a major bank, they locked my PC the moment the phone call ended LOL
Im a Software Dev with an education and I could never get a real job long before these big layoffs. This whole STEM shortage has been nothing but a scam.
Do more personal projects, lie on your resume as long as you know you can do the work.
@@r3dp1ll I no longer search for these jobs. By the time I quit I had 36 github projects, 85% of them being something serious and valuable. Companies are looking for at least 3 years on-the-job experience and a pitch perfect personality. They have no money to train Juniors or pay a Juicy salary for a Senior. But they expect the best talent? It is a scam. Im based in Europe btw.
Because you are not an software engineer , they are doing fine
There was a shortage of experienced Software developers (maybe not so much right now). Every company sits and waits for other ocmpanies to hire new grads, seeing that as being gullible, and waiting the new grad to get experience in the other company so they can snatch him. If a company claims there is a shortage of a specific kind of workers, they should be assigned new grads in the field. If they refuse, they should be fined heavily. Free market doesn't mean you should influence it using lies and manipulation.
Just laid off from my tech job last Thursday 😢
The title is pretty misleading.
Q - Where did the laid off tech workers go?
A - Well, here's some promo material about AI
Skilled people are abandoned and useless people are thrived.
What’s wrong with this society
All us software and app developers can do one thing to teach 'Big Tech" a lesson and make the world a better place - Decentralize technology and strip the power away from these ungrateful Big Tech companies that treat everyone as a commodity while creating THE WORST UI and UX experience on end users while implementing this Digital Dystopia they want to control humanity with.
I am listening. How would you define decentralize technology?
@@oceanview3165 DAO for example. The crypto sphere has based its business model on dencentralization
@decentrifytech let's talk to build such projects
Or just start making products that work and don't need constant repairs. Its amazing how the tech world doesn't get this and continues to make this highly complicated crap that never works. Make something worth buying and your problems are solved.
@@santerek28 That's why I slowly working on this channel!
Thank you
When employees have performed the duties stated in their offer letter, they should have a right to keep their job. At the very least, governments should mandate 6 months notice periods, not just benefits, so that job seekers don't have to justify unemployment every time. If companies have mishired, they should pay for it from their own profits.
Yes, they do this in Europe and England.
Tech interviews is like Tinder (for men) .. you barely get any matches, and when you do, its dead silent afterwards.
It used to be the other way around - you get messages from a lot of attractive young ladies from the HR that you ignore 😂
I lost my tech job in December... took me until October to find a new job. 1000+ applicants per job (according to LinkedIn)... and this is for executive roles. I can't even imagine how bad IC's have it in this market.
All this means is that entry level junior devlopers dont stand a chance to get a job.
No way.
get better skills
@@hamburger6154 won't change anything because it's not a matter of skills. It's a matter of timed experience.
I’ve gotten laid off after working 4 years for Microsoft then Amazon.
Got 2 months severance then Unemployment or 60k a year for 6 months.
I’ll just use the 6 months to learn more skills & travel then go back when it’s over.
you better rethink that, heard a lot of people having problems with "gaps" in their resumes being brought up as a reason for not getting hired, or you might wanna go and lie as others are suggesting and saying you were self employed during
@@Zuranthus yea that’s a concern. I’ll make something up if it causes me issue on first interview. Just wanted to get off rat race for a bit & enjoy summer.
@@abdiganiadenliterally everyone’s lying and it’s a mess. Companies with their absurd job ads, overinflated CVs, everyone ghosting. Everyone knowing everything. It seems that it’s more a matter of luck these days. Go for it, nothing to lose, they looked for it.
Also ChatGPT CVs (not a bad thing) fighting AI selected CV.
@@abdiganiadenit’s been almost 6 months. how are you now?
@@TheMrBlueKoolaid nice, thanks for asking. And I am now employed with a major airline.
I planned to use all 6 months but a recruiter reached out and convinced me, I also don’t pay for most domestic flights anymore due to a job perk so was win in the end
Look, I have years of ML experience. And I have studied generative AI and can implement it. But try to find a job at one of these AI startups, you are going up against hundreds of candidates. The AI "boom" isn't a big job generator. I have a lot other tech skills, employers say they can't find enough candidates, but that is simply not the case. I have decades of Python experience, including skills most relevant to the AI Industry. Every AI job I have applied to, the response has been "Thank you" often with the statement something like what I recieved from Kunai "We have recieved hundreds of qualified resumes". I have been looking for a new job for 6 months, only made it to the 3rd interview recently, no job offer. Stop fooling ourselves, there ABSOLUTELY no shortage of workers for AI companies or any other tech company out there right now.
It is just so unfair that the CEOs make so much more money than an average worker. Is it not fair to ask the CEOs to take less money home n prevent at least a few people from being fired?
The CEO are not communist?
Their jobs is to squeeze the bottom line that why they are paid the big bucks
Our system is f***ed up, honestly. We are bunch of monkeys working for up level pigs in the modern companies. That is the reason
If they respected the local laws and the work contracts of the employees I think it's fair. All things considered, companies with low earning CEOs tend to be cooperative and public service related. They offer much lower salary than the ones with high earning CEOs. That said, some form of earning cap like what is done in some professional sports wouldn't hurt.
Is it fair to ask a billionaire to sell one of their yachts to feed a few villages in Africa or India for a year? Well, it’s not how the world works…
You know the capitalist dystopia is on overdrive when CNBC brings up how bad the CEO/WORKER pay disparity is, god damn google 😂
I was laid off my first job. Boss called me into her office, broke the news, then gave me 15 minutes to gather my stuff and leave.
I'm glad that I now live in Europe. Companies can't pull off sh*t like this over here.
Which country were you before?
I got laid off in similar way.
@@pondering-princess USA
Companies don't lay off in Europe? Who cares how much time they give you to clear your desk. Bottom line you're out. Not going to lose sleep over semantics.
These software guys are creating AI that is gonna get them laid off. Real smart
😂😂😂😅..
😂😂😂😂😂 you funny 😆
I've never seen so many software and IT guys complaining online about finding work for such a long period, especially entry level people. The number of people trying to enter the space has been insanely high over the past 5 years and until now the industry could take them.
No job is ever “safe”. Employees are simple a part of the business machinery and when no longer needed or useful, they are discarded. Nothing new about that. Labor laws and labor unions are the mechanisms created to help soften the burden to workers and society when companies make these changes. I was lucky to have a pension plan; few companies offer such perks anymore. When searching for new jobs, always check the benefits packages. Higher pay up front probably means less benefits. At different stages of life, you’ll find your priorities shift. Be prepared and always have an updated resume ready at all times no matter how good you think things are going.
Programming your replacement slowly but surely like car companies that slowly went towards automation and now only need a handful of people on a manufacturing floor.
Expectations are that this shake-up will be like previous shake-ups in that jobs lost will be replaced with newer jobs. Expectations even say that the replacement jobs will number a little less than the job losses.
The standard upper management drive is to reduce jobs to increase their personal income, practically cutting their own throats in doing so. Just look at the WGA/SAG problems. If out of every 10 jobs, they think they can reduce to 8 and have them do the same work as the 10, they will.
This is AI we're talking about. The job replacements will be exceedingly less in number. Those 10 jobs will be replaced with probably 2 with experience dealing with AI, and expect 10 jobs worth of work from them.
Once AI becomes AGI (Artificial General Intelligence, the next step), you can expect the full company to amount to the CEO, a couple assistants, and a truckload of robots.
So the next step is to facilitate the transition to the physical side, the hardware, maybe there will be some jobs in there.
@@exriodonorte67 That's I.T.. A few people handle all the hardware (and software) needs for the company.
This system can’t work. Everyone else would be homeless, it would result in revolution and riots. But the CEOs won’t be able to see that, and are not as smart as they think they are.
wouldn't bet on AI becoming good enough for that
@@bentos117 I would.
Having seen what mass layoffs can do to a city, I can only hope that Silicon Valley recovers. From my experience it's a long hard road though, once the major employers in town begin to downsize/fold.
I don’t, 80% of the new influx of tech employees are only in it for the money, the real ones like us who’s been doing this since we were in middle school KNOWS job security is low and you have to keep up with the times or get cut off
until professional jobs w/ tech companies ( that manufacture physical "stuff" every month ) comes back to SV like in the 60's, 70's, 80;s, 90's, 00's ...having worked here for 40 years, SV has been like the Titanic after the iceberg hit, Covid though, was the final nails in the coffin...
Austin Texas and Dallas is the next silicon valley
Bruh. 🤦🏻♂️ There was already poop in the streets of SF before.
The job of technology is to eliminate the human.
Skynet is recruiting!
A lot of those tech jobs are going to India, Malaysia, Singapore, Taiwan, it was China, but I’m not sure right now, but I’m sure the Chinese want it back.
Breaking news: Tech workers now have to deal with what regular workers applying for jobs deal with.
Tradesmen are laughing their butts off watching this Hunger Games tech economic bloodbath. Welcome to the 2nd annual tech job Hunger Games. Made the odds be in your favor.😂😂😂😂😂😂
If your job can be be done remotely from home behind a computer, there is a good chance Ai will one day take your job
Not true. AI will never be able to make better judgmental decisions
@@r-uu2qi”never”? Bs
well first, people in developing countries
@@troyarrington5492 tell me when then. We’ve been hearing for at least 100 years that robots will take over.
@@r-uu2qi no one’s talking about robots lmao you watch too many movie
I used to watch all these "What's it like working at a tech company video." After seeing so many people showing off the amnesties they get, it made me want to quit my job and pursue tech.
Now that people are getting laid off while I still have my job that I love, I'm pretty glad that I didn't. 😂
I had a similar experience last year being laid of from an American company and since I am from a relatively small country with 1000 people being laid of means that the job market gets overwhelmed with new recruits and many people with bad living conditions lost their livelihoods and also their life not being able to get a job on time. Since such high volumes of wealth are being siphoned for this industry it is high time to regulate guarantees for workers in future situations especially with big companies which are responsible for so many lives at once.
What country is that?
I am not feeling bad for people from HR with absurd salaries getting laid off
AI is just another hype cycle that will eventually crash
So was oil, railroad profitability, the value of the dollar atp, real estate up until 2008, etc. we’re constantly evolving and changing nothing is here forever so stop staying idle before your job ceases to exist in 40 years😊
NVIDIA is worth over one trillion, yet has gross revenue (not profit!) of 27 billion. The power of marketing!
1% of AI will work pretty well, though! Who cares about the other 99%? 😊
@@Naomi-xu4hqrailroads were covered by government property grants
Only low level jobs or reduce will be replaced by ai
You can learn a lot more from the comments, than the info video, thanks to all !!! ... keep strong people 💪.
My mother was laid off and has not been able to get back into the IT field for the last 3 years. She went from 100k / year to 13k / year (not joking. I financially support her and my disabled dad.) She was a software engineer. She was denied unemployment - my guess because she was only at last job 3 months due to being laid off previously as a result of a corporate merger between companies. She was laid off at exactly the 3 month mark this last time after company decided to cancel an entire project.
She should do her nursing pre-requisites and get into nursing
Android Zuck is basically Gavin Belson from Silicon Valley:
But goodbyes are always hard, especially when I am the one saying goodbye. Today, effective immediately, I, Gavin Belson, founder and CEO of Hooli, am forced to officially say goodbye to the entire Nucleus division. All Nucleus personnel will be given proper notice and terminated. But make no mistake. Though they're the ones leaving, it is I who must remain and bear the heavy burden of their failure.
Glad I took up computer engineering instead of computer science. My specific field is in heavy demand and very difficult to find people for positions due to so many people doing CS instead and software in general.
You mean "Learn to code" didn't work out?
Shocker.
That was my first thought, learn to mine! 🤣
I guess same goes for math and physics 👍
Tradesmen are laughing their butts off watching this Hunger Games tech economic bloodbath.😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
This is part of the reason I went into arboriculture. Not the highest paying, but as long as there's at least one tree on the planet I'll have work.
Ai can’t do it 😂😂
Oodles of layoffs, but everyone i know has an engineering degree. We turned around and got ourselves raises in cushy defense companies. If you truly went to school for this and are skilled, youll be fine. Most engineers have a multi skill toolbox. I learned to code in my freetime but i also do electrical engineering. Some of us contract now.
There was so much speculative hiring, and crazy salaries being offered, that once access to cheap capital went away so did the justification for the speculative hiring.
People being laid off from positions that didn’t exist just a year or two earlier isn’t the sky is falling scenario commonly represented by the media.
Part of the issue is not having a service that produces any tangible benefit you can make heads or tail of but throwing money at it anyway because it's the next 'unicorn'. Speculative VC firms. Fun.
@@chrisaycock5965no the biggest issue was social media inflating the lives of tech workers and brining in millions of unqualified people in jobs they weren’t supposed to get in the first place
Exactly. Speculative hiring has a lot of ripples. You hire developers, you also hire middle managers, and support staff (HR, Accounting, Media and outsourced positions like custodians).
This is just a market correction, a glitch in the matrix
@@weird-guy I just imagined a labour market chart, with that correction 😯 thanks. If corrections like this creates instability, then there should be some kind of insurance or even better someone storing up those labour commodity(it technically is) at a cheap price till when the labour market (connected to the capital market) needs them again. Plus, the cheap price could stimulate the economy perhaps even more quickly, while also sustaining people.
PS: the idea is not mine, it's MMT(modern monetary theory)
Improving AI is like training your replacement, the replacement for humanity in general
165 jobs 😂😂.. kids I applied to 1500 jobs and got like 10 interviews 😂