Nah, I disagree. I work in crypto (coinbase) and was working in tech in the Bay Area in 2008.

As of today, many crypto companies have money from 2021/early 2022 raises and are still hiring. In 2008 the private tech market reaction to the stock market crash was swift and brutal.

It was really hard to get a job in 2008. Today it feels like their is a big lag between stock pullbacks and jobs drying up. None of my colleagues who were laid off are having trouble getting jobs in crypto and have options in other parts of tech if they want it.

To be clear I expect the jobs situation to get worse this year and in 2023.