It's Over: Tech Bubble Is Bursting Right Now

Is it still worth becoming a software developer as the tech bubble pops wide open? Facebook and Google are doing some hiring freezes. In April, Robinhood had a layoff. Better dot com has had several rounds of layoffs. Peloton let thousands of employees go. Layoffs are on the horizon for many more tech companies.

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[matthewwoodard]

Tech isn’t going anywhere. The way I see it, building tech skills is like investing in the stock market. A downturn in tech hiring will scare a lot of people off, but the people who stick it out end up better off than before. Almost every company needs tech. That’s not going to change. Most of the layoffs are coming at companies that were never going to be very profitable, if at all.

[bez]

It's this kind of content that made me sub to your channel. Honest, no nonsense advice. Because of you I've decided to focus my energy as a self-taught developer on improving my frontend skills before I try to become a full stack dev.

[midknight]

DON'T SCARE ME LIKE THAT DUDE! I'm still in the learning process and hoping to get some freelance work or a new job soon ish

[m._a.n.i.k]

The key to remain valuable at a tech company::: NEVER STOP Btw love ur Channel 😘😘😘😘

[patrickleahy]

My man, this video is top tier. Edits, script, tips, direction, video/sound quality. Just finished my bootcamp with Coding Temple with their main language choice being Python. It was intense and worth it but I still feel I need a month or so to prep for interviews (data struc/algos) and this was very very helpful and inspiring to keep going and push through. I was thinking of starting to post videos of my journey as well and seeing how your channel has great content and quality start to finish, I’m encouraged.
Keep it up.

Subbed & bell set to 🛎 all as well.🙏🏽🤙🏽

[landrytelfair]

if anything, this motivates me more. I'm 2 weeks and 19% into the Front End Engineering codecademy course after finishing the Google Data Analytics and seeing what could be coming makes me want to get better at coding to ensure my future survival.

gain intensity to ensure success everyone.

[ShaneCrouch]

I survived the real bubble burst in early 2000s, and probably a layoff per year ever since.. definitely tough to see each time. Didn't take long for hiring to start again. I may be wrong but I don't see it happening now, still a crap load of hiring. A lot of larger companies layoff a certain percentage each year to get rid of the perceived lowest performers. I say perceived as lots of time it's political. The website builders and sites don't really hurt many industries. Majority of product development isn't more websites for small business etc. Tons and tons of software industry out there, outside of building websites for people. .

[crustydev]

Personally here are the few things to learn from this:
- Always be active on LinkedIn even if it's just a comment.
- Research the company you're working for thoroughly and their business model
- Diversify your stock as soon as you can

[threeone]

I legitimately wanted to hide under my desk during each of the 4 rounds of layoffs at my company.
100% terrifying, can't believe I survived.

[warhammerRob]

I started my Tech Career in 2001 in Support and got laid off in 2008 and is it a normal turn. From 2002 to 2008 i could jump ship at anytime and get a raise. This is gonna hit some big companies more but if you company provides a service that is important then you are good. But be smart learning new skills will never be a bad thing.

[TheJacklwilliams]

I've lived through the great bubble burst, crashes before and crashes after in tech. Tech will roll on. Adjust your game, check your focus, aka, how many people in the market niche you specialize in are doing the same, etc... refine your game, walk if you must, it's your path however... Tech will roll on.

The main thing I'll add here and nothing is more important. If you are pumping out 100+, etc.... For GODS sake don't wrap up the next decade in a barrel of debt. THIS is the number one thing that weakens your position in life. Stay liquid, invest / save large chunks of your salary both available when needed and locked away in solid/stable/long term investments.

If your skill sets are relevant, if your focus is there, you'll remain viable in this field. Will there be bumps in the road? It's life, yes, always. If you have to switch focus, get on the wrong end of a layoff, it'll be much easier to find the next position, or even choose something un-related until you can get the right one, if you aren't buried up to your eyeballs in debt.

Stay liquid kids. Stay smart.

[WhatsMyNameAgain]

Helpful information. My personal take is that companies are just going to have to be more selective because of the financials, which I know sounds like a negative but in turn sort of gives leverage to devs as long as they really can present strong skills. Breaking through will be difficult but I imagine this will be one of those stand off type scenarios where employers want to invest in the right person to minimise hiring needs, but devs are going to want the right company. Eventually somebody will fold and employees out number companies tenfold. Onwards with the journey!

[ApplicableProgramming]

Good point James. One thing I was recently thinking about was raise of compensation for developers. Someone has to pay for that right.
When I quite in my previous company, which is internet provider, it took them a year to find replacement for my position. Meanwhile they had to pay for a consultant, which was much more expensive. And similar thing happens when few others have left the company, so... Someone has to pay for those expenses, and it is usually the end customer (meaning us, as in entire society)

[Armalite]

Excellent analysis of the current economic status and why it’s affecting our lives so negatively. Endless borrowing and quantitative easing (money printing) is reckless, it devalues our currency and costs us so much more in the long run.

[_ash]

Loved the content! You are an amazing storyteller.. got that from your intro monologue to this video!

[goldendiploma]

You sound like the next Peter Schiff. =)

I suggest every one Invest into commodities such as :
1) Tantalum - used in all modern capacitors/electronics
2) Silver = used in solar panels / Electronics
3) Titanium= fighter jets, tanks and spaceships
4) Gold = used every where =)

and essentially any element on the periotic table as most of it comes from China and Russia. As we all know those countries are not in a sharing mood

[MonsieurSansHonte]

Been there. More than once. Never once didn’t suck.

[sombraelerizo]

I'm learning Web Development. Should I be worried?

[karlnassar]

This just scars me.. only 1 year in the industry and this happens :/ I'm disappointed and sad at the same time

[kgdev]

Hey devsmak, how are you? quick question, what advise can you give me if i want to ace the Adobe Front end interview ? thank you