12,000 Facebook employees, 15% of its workforce, may lose jobs amid quiet layoff
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I don’t think many of these people will have trouble finding a job. After all - they most likely grinded the fuck out of leetcode and system design to get in. That type of persona to do hundreds of problems doesn’t easily waver in the face of minor adversity.
What is leetcode?
The difficulty levels vary and FAANG is well-known to ask such questions (in the harder difficulty spectrum) intech interviews
But you'll be nicked hard if you don't communicate a ton. It's actually bad form to not verbally discuss the approach, big O space/time tradeoffs, testing approach, etc, before starting to code. For a medium type problem that could be a full 5-10 minutes of talking before doing 10-20 minutes of coding.
Also the general advice is to not memorize the answers. There's literally thousands of them. It's to do many in different classes of problems to get a feel for the algorithms and to see the patterns on when to apply what, and to esp. dig deep into alternate solutions provided in the discussion sections because it's not uncommon for an interview to switch it up and ask to optimize space instead of time.
It's really just becoming a mid-level competitive programmer, which takes some grit, but is somewhat removed from being a great engineer.
Trading firms, various financial software companies, gig economy apps, crypto companies, and developer tools companies tend to be the things that recruit me most frequently. Not exactly companies that I feel are providing a lot of benefit to people. Just more efficient ways of being extractive or helping other companies be extractive.
A friend of mine used to work in the bizdev side of a non-profit, managing donations and tracking groups to thank and follow-up with and so on. Incidentally she started complaining about how bad the user experience of the software she was using was, which got my ears tingling. What if people in her position at other non-profits had the same experience to the extent that I could distribute the cost of developing something this group of users found value in (increased efficiency/productivity) that their organizations would be willing to switch to?
I ended up not following through for personal reasons and there are some of the normal "cost of switching" stuff one would have to get past to make this work, but little things like this wouldn't generate hockey-stick revenue but could bring value to the world. If the Thibault can make a decent living making a good free open source chess website or Tarn can make a decent living making the most in-depth fantasy world simulator the world's ever seen, surely there are other modest opportunities out there to be the change we want to see in the world (interestingly both examples here live on donations rather than selling a service/product).
But the pay is way way way way higher than what I could get by building a website for the local food bank. Instead, I can donate five or six figures annually to charitable causes and still come out ahead for my own income.
You should also keep tuned in to the organization (and those that receive grants from them) on what impact your helping create to build reinforcement.
Of course, there is another group whose attitude is more along the lines of, "fuck society, pay me more."
Money is just the common language you and I use to express what we personally value.
It is, but we do not have equal opportunity to express that value. Some people have thousands of times more money than others, and thus the things they value are over-represented by monetary value. Furthermore, due to marginal utility, the things we first spend money on tend to much more valuable to us than the things we spend extra spare money on, the money spent by the rich tend to be less representative of actual value than that spent by the poor. As that is a huge proportion of the total money spent in our current society (see for example https://www.theguardian.com/business/2019/jan/21/world-26-ri...), money ends up not being that great a measure of true value as defined by the things that people want and need.
I don't think it works that way, at least that's not the way I think about it/find it useful to think about it.
You have to consider each individual in a vacuum with what they can get and how they can earn money. The money that another person has is largely irrelevant to the individual (aside from the macro economic effects).
>money ends up not being that great a measure of true value as defined by the things that people want and need.
"Not that great" as compared to what? It's the only measure I know of.
Ah, but how they can earn money is to a great extent determined by those who have large amounts of wealth (more specifically those who control large amounts of wealth which includes those who own and also those who invest on behalf of others (such as hedge fund managers). Consider how many people are employed by Meta to work on metaverse products, and how much those people earn. Is that because those products have proved themselves on the open market? No, it's because they are the pet project of Mark Zuckerberg who has accrued large amounts of wealth. These kind of projects constitute a significant proportion of our economy.
> "Not that great" as compared to what? It's the only measure I know of.
Not that great compared to a hypothetical measure that was actually accurate. You said "monetary value is real value". And it isn't because it's not an accurate measure. There doesn't need to be a more accurate measure for that to be true.
What this means in practice is that one might be able to make a judgement that say a software job in a renewable energy company produces more value than software job creating a blockchain (even though that job is paid less), or that social worker produces more value than drug dealer even though that pays less. This judgement may or may not be correct, but one cannot rebut it simply by saying "it can't be more valuable, because if it was then it would be more highly paid". Lots of things are not compensated their true worth, and many things are over compensated.
> What this means in practice is that one might be able to make a judgement that say a software job in a renewable energy company produces more value than software job creating a blockchain (even though that job is paid less), or that social worker produces more value than drug dealer even though that pays less. This judgement may or may not be correct, but one cannot rebut it simply by saying "it can't be more valuable, because if it was then it would be more highly paid". Lots of things are not compensated their true worth, and many things are over compensated.
What I'm talking about is value to one person. For example, if you were the person you were talking about working for the blockchain v. renewable company. If blockhain job pays 150k and renewable job pays 120k yet you choose the 120k job instead, I can say that the extra value you get from working for a renewable energy company vs a blockchain is at least 30k dollars. I can then take that 30k dollars and use that as a proxy for anything else you can get for 30k for the basis of comparison. For example, you have to buy a home with 200 less square feet or you have to send your kids to a different and worse college. The value you place on those two homes or those two colleges is also worth 30k.
This logic works for any group of people as well. The US population as a whole spends X dollars and Amazon and X dollars on climate change
> This judgement may or may not be correct
I'd argue that this judgement can't possibly be incorrect for the individual that makes it (at the time it was made. regret is possible later) and that any other context you try and call it "correct" doesn't provide any insight that can tell you something new.
If money didn't exist as a proxy for value and you were instead compensated a brand new car every year at job 1 and a new house every 3 years at job 2, it'd be a hell of a lot harder to figure out how much you valued your children's education.
The way you're talking about value is using your moral priorities to say what's wrong or right and calling what's right valuable. There is certainly plenty of room for a discussion of good and/or right but I think it's a distinct conversation than what people actually value (as demonstrated by their actions). It's philosophy vs economics.
> You said "monetary value is real value". And it isn't because it's not an accurate measure.
In the economic sense, monetary value is a precisely accurate measure that shows how people valued things in the past.
I think you're talking about what people do with their money and it's societal value (as determined by your ethics) which is, as you say, not an accurate measure.
I think this gets to the heart of the issue. I would say that I'm making a philosophical argument that the (classic) economic definition of value is insufficient because ones actions are not sufficient to determine someone's preferences unless you hold their circumstances constant.
> What I'm talking about is value to one person. For example, if you were the person you were talking about working for the blockchain v. renewable company. If blockhain job pays 150k and renewable job pays 120k yet you choose the 120k job instead, I can say that the extra value you get from working for a renewable energy company vs a blockchain is at least 30k dollars
Your logic here makes some amount of sense. I think where it falls down is that if you measure in this way then you can't compare values across people (or groups of people) at all. $30k for one person is not measuring the same amount of value as $30k for someone else. If Person A earning $300k/yr chooses to spend $60k on their children's education and Person B earning $50k/yr chooses to spend $10k on the same then you can't even say that that Person A values their childrens' education more than Person B, let alone that they value it $50k more. The opportunities available to different people are not the same.
I actually feel like this problem is significant enough that one shouldn't use dollars to measure value in this way at all, because dollars are usually fungible (a dollar is a dollar is a dollar) but in this case the measured value is non-fungible. Thus making any analogies using this measure liable to be highly misleading or commit logical fallacies.
Clearly not in absolute X dollar terms though.
For engineers, the more senior you get, the more communication you should be doing. In most companies, sitting in a corner and quietly writing code will not get you into director-level, however good you are.
> pretty hard-working but over time become less so
If people start to cruise, they may get pressured by hard-working peers and management. Of course, those who are very good may get away with it as FAANG reward impact and not work, but there are many strong engineers there, so it's very hard to stand out. And those who do are incentized to climb the ladder rather than cruise.
> it doesn't make much of a difference how hard they work
It's the opposite. Those who manage to have good evaluations are rewarded.
> seeing highly-motivated people having their potential sapped by working on contrived pillars instead of using their talents to make cool and useful stuff
There are tons of cool and useful projects in these big companies. Basically any field of CS you may be interested in is there.
My experience is that people work hard when they get the job. After one year, they realize it's hard to sustain that pace and that they barely meet the expectation with all the hard work. Some leave, some get managed out, and those who stay many years are productive individuals.
- 1-2 years: Work hard because you feel optimistic and self-assured, working on exciting problems with smartest people in the world, lots of great resources - 2-3 years: Start to realize things aren't as great as you thought (e.g., a project you felt passionately about was junked for a random political reasons, people you thought were super smart start to just be normal coworkers, more of a premium on playing the game the right way than doing great work) but the salary and lifestyle is still attractive - 3-4 years: Many people leave to do something else, a bit more experienced but a bit more jaded. Many who stick around have figured out a niche to fill and are mainly in it for the lifestyle rather than the technical challenge
Basically I wish it was more common to sustain and grow the early-days excitement and passion while developing as an engineer. I think with smaller companies there's often more self-determination for junior employees, so that when they "grow up" and start to see more problems they usually caused the problem themself, rather than having to live with someone else's problem, which makes it easier to stay excited. YMMV of course
Not sure you meant it, but this is an inadvertent attestation for "leetcode". As in, it's not about the leetcode, it's about the type of person that masters the leetcode.
I’ve participated in some mentorship programs for college grads. There are a lot of students who think that the FAANG career path is basically “Study LeetCode for a few months, get FAANG job, then rest and vest”.
Of those who make it into FAANG, it’s common for them to be surprised by how demanding and competitive their jobs are. I’m not sure where people are getting the idea that the highest paid jobs in our industry also happen to be some of the easiest, but it doesn’t even make logical sense.
I suspect a lot of it stems from sour grapes: People inherently get jealous of high earners in prestigious jobs, and tend to reach for excuses to bring them down a notch.
Prestigious: no
It’s just a job.
If you don’t think FAANG jobs are socially prestigious, you’re probably thinking too narrowly within the HN comment section bubble. Talk to first-generation college graduates looking to make it big in the engineering world and FAANG jobs are the definition of prestigious to them and their families.
A lot of people have negative sentiment toward “lawyers” as a group, but getting a big lawyer job is still considered prestigious for the individual.
Also, the average person actually really likes Google search, their Microsoft Xbox, their Instagram friends, and so on. If the average person actually disliked these products, they wouldn’t be the biggest brands in the world.
I don't "like" Windows but I'm using it right now to type this comment because my option is the other FAANG, Apple. Or specifically going out of my way to use Linux. (This extends also to cell phones with the effective Google/Apple duopoly)
I don't "like" Facebook but it's the only way I can keep in contact with my family across the planet, because they're technologically illiterate and only understand Facebook Messenger
I don't "like" Amazon but they've sucked most of the oxygen out of online retail
- Computers - you admitted that you could use Linux. But Apple and Microsoft provide a better experience for you
- phones - you could use a PinePhone. But you choose to use an Android or iPhone because it is a better experience
- your family chose to use Facebook products even though there are plenty of other messaging apps and methods to share pictures. Facebook gave them a better experience.
- I can’t think of a single product that you can get from Amazon that you couldn’t get from somewhere else. You choose to use Amazon for the convenience
There are plenty of people who use Linux as a daily driver, don’t use Facebook Messenger, and order from other places besides Amazon
Amazon sells an item I'm after
A physical store in a remote town in the African desert also sells it. But not online
Obviously it is my fault for not exercising my still existant, but "inconvenient" choice to not purchase the item from Amazon. Or simply book a flight across the atlantic, various other methods of transit to make the trip to the village and then return home the same way
I didn't authorize facebook to create an account for me, but they made one for me in secret anyway and they buy data from data brokers to fill my dossier with details of my life. Facebook isn't giving me a better experience when they track my internet browsing and app usage.
I don't "choose by my own free will" to make government websites send my data to Google by including trackers in their pages, but I still have to use those sites to get the data they provide and the services they offer.
Lots of people could use a Pine phone, but cannot afford one and the last time I checked into pine phones the "better experience" in that case would have meant "Can actually be used to place a phone call". What kind of alternative is a phone that couldn't place calls? They've likely fixed that issue by now, but let's not pretend that all choices are remotely equivalent or accessible.
If there's no comparable alternative to something it's extremely disingenuous to suggest that people must love it, or that they are making a deliberate choice to use it. Often there is no choice that doesn't involve upending your entire life or cutting yourself off from society.
For example, I could quit my job, leave my entire career behind, and endanger the health and safety of my family to try to find some entry level job in another industry that wouldn't make me use a Microsoft product, but if I'm not willing to do that does that mean I choose to use Windows of my own free will?
At what point does "give up everything and endanger the people you love or else keep using Windows" start feeling less like a choice freely made and a lot more like someone putting a gun to your head? Sometimes a "choice" isn't much of a choice at all, and in the case of using Google or Facebook you have no choice since they are impossible to avoid in today's society.
> For example, I could quit my job, leave my entire career behind, and endanger the health and safety of my family to try to find some entry level job in another industry that wouldn't make me use a Microsoft product, but if I'm not willing to do that does that mean I choose to use Windows of my own free will?
There are millions of other people who chose a different career path. There are also developers who never have to use an MS product. I’m sorry you were forced to choose a career where you get to sit in front of a computer everyday probably making a lot more than people in a factory.
You can't block googleapis or reCAPTCHA and still have the site function properly.
> Facebook didn’t force your family to use it
But I still don't get to opt out of having an facebook account, or opt out facebook collecting my personal data, or opt out of them using it for whatever they want.
> I’m sorry you were forced to choose a career where you get to sit in front of a computer everyday probably making a lot more than people in a factory.
I'm not saying it's all bad, or that it couldn't be worse, I'm just saying you don't always get a choice in things and often the "choices" you have are false choices or forced choices.
You don't need to go out of your way to use Linux. It is really not that bad. Ubuntu Mate is a usable desktop and there are others, too, like Linux Mint, etc.
It doesn't artificially deprecate your hardware like new Windows releases do. And everything that you install through the package manager is kept up-to-date by it for security fixes, including your browser, mail client, word processor, text editors, Python packages, and so on, without you having to seek out updates manually.
After Apple abandoned my old Core Duo 2.66Mhz Mac Mini that was introduced in 2006, I put Windows 7 on it. Windows 7 got its last security update in January 2020 [2]. Yes my old 14 year old Mac Mini is still running. My mom just stopped using it right before Covid as a secondary computer for kids she was tutoring to use Chrome.
[1] https://www.notebookcheck.net/Review-Dell-Latitude-E6500-Not...
My mom kept it because it was useful. But you can buy a $200 Dell (https://www.dell.com/en-us/shop/dell-laptops/inspiron-15-300...) that would serve the same purpose - a computer to run Chrome - that would run rings around a 16 year old computer. At some point it just becomes nerd pride to keep using. She does have other computers that she uses that are newer. But once it was EOL, she never used it.
Personally, I wouldn’t even think about getting any x86 laptop in 2022. Using an Intel laptop with its horrible battery life, heat and fan noise compared to an ARM Mac is like using a flip phone after the iPhone came out
But feeding the market power of a big company so that it can become a duopolist or a monopolist is not a good idea. Such market power is always used to perpetuate that power and to extract value from you. Hopefully with efforts like Asahi Linux,[2] Linux can soon be a daily driver on the M1, too.
you don't use Facebook but that doesn't mean you don't have an account there and that they aren't using it to track every mention of you by anyone you know who also has an account. They're also buying data about you from data brokers and using that to fill your dossier and tracking your browsing/app usage history through facebook buttons and "sign in with facebook" features.
That's the problem with inescapable companies like facebook, Microsoft, and Google. You don't have to like them, you don't even have use them, but they'll still be collecting your data and making money at your expense. You aren't allowed to opt out.
I wasn't speaking specifically to ads/tracking. Out in the "real world" there are plenty of people who decry "big tech censorship" and have strong views about said tech firms that are tied to their political views.
Depends on where you live and who you're frequently around; my experience seems to be quite a bit different from yours. I also don't expect that people care about what I care about, appletrotter.
[1]https://www.theverge.com/2021/10/6/22702798/verge-tech-surve...
Your claim about the "real world" sort of boils down to "people are less likely to dislike Facebook and Google if they do not understand what they are doing", which isn't really a great thing to be able to claim.
They usually just shrug and the conversation continues. Most people outside of the tech bubble just think a job is a job, many don’t even know the compensation of the large tech companies.
[1] The title isn’t strictly correct. But close enough. It beats droning on with the longer explanation
A lot of tech people. Believe it or not, Google still scores near the very top of "most trusted brands" when 3rd party analysts do studies. The tech community is highly negative of Google as a brand, but "average people" don't actually have a negative view.
I don't know about Facebook - haven't seen any recent data.
Just like the other 7 jobs, it’s just a means for me to exchange labor for money to support my addiction to food and shelter.
Admittedly more money than I’ve made before.
If you ask the average non tech person if working for Netflix or IBM is more prestigious they aren't going to laugh at the question like we would.
By the time I finished going through the interview process, the person who was supposed to be my boss had already left due to burnout. The person who was supposed to report to me had become my boss by the time I received an offer, but left by what would have been my start date. I would have ended up in charge of the department if I had taken the job.
Netflix, at least, is a grinder, and they pay correspondingly.
This is not legal advice, IANAL.
Does it mean that there's a legal battle to define whether a certain person can be considered a partner?
"Unmarried Couples ...This page is about partners in a stable relationship who are not married or registered with any authority..." - https://europa.eu/youreurope/citizens/family/couple/de-facto...
A post divorce party increase generally does not result in higher spousal support unless it might restore an earlier level of spousal support, but either way it would increase child support.
This scenario doesn't work as you expect if you get your first high-paying job and are served with divorce papers a week later. You have to be making that much money for something like 1-2 years for it to be considered any sort of baseline.
IMO, salespeople are hit hardest by this due to economic boom/bust cycles. You live an extravagant life when times are good, then get divorced during a recession and end up absolutely ruined because your earning potential (and imputed income) are tied to factors beyond your immediate control.
Bankruptcy does not relieve you of child support obligations. Unsure about alimony, but I doubt it.
If you have to get a lower-paying job after maintaining a higher-paying one, you can file for a modification, but you can only do this once every 3 years or so. It works both ways too-- your ex can file for a modification of child/spousal support (every 3 years) if they anticipate raises or promotions on your part.
That said if we are talking about mid-level/L5 engineers... then yes, I agree. From a far, it seems very possible to coast for a full 4 year equity grant if you situate yourself correctly, and have a manager that lets it slide.
Forcing seniors to go up or out is an illogical way to shoot yourself on the foot... They are the experienced engineers who can train the next batch of junior/mid-level that might want to become Staff later. Seniors are usually the engine of onboarding.
Some people like to be good at what they do without having to chase higher positions to perform a different job, I really don't understand why a company would force seniors to go up or out.
I find 1.1 years as average incredibly low. Is this really the case?
A lot of the time, it's because the project isn't some new and shiny thing getting pushed by a director. Lots of critical, difficult tasks don't get attention - which means that new engineers get saddled with them, realize they've been fucked out of a quick promo, and then leave for greener (on multiple levels) pastures where they'll be better appreciated.
This is where,
- https://news.ycombinator.com/item?id=33209621
and
People who think this look at a product made by 83,000 people and to them, it looks pretty similar to a product made by 83 people.
Some of those workers are working on a large-scale product that scales imperfectly. Sysadmins to rack new servers, human moderators to respond to users' reports, whatever. 1 per 20,000 users and a few billion users is a lot of workers. On the other hand, none of these companies are famous for their high-touch, responsive customer support.
Some of those workers are working very intensely on things that are completely invisible to end users. Applying security patches to backend servers. Training their workers to recognise the signs of modern slavery. Building their own in-house Linux distribution. Products that get cancelled before launch. Getting that newly acquired company onto your corporate platform.
And some of those workers are working on things that are marginally invisible to end users. Ad sales, feed ranking algorithms, spam detection.
Some of those workers are working on new, customer-facing but peripheral things, that have escaped notice because they're at a small scale, or unpopular. Shorts on youtube, for example.
To a critic, these manual scaling support, invisible and almost-invisible efforts don't count - and if you only count customer-facing features, that seems like a lot of developers and not much development.
The bureaucracy is expanding to meet the needs of the expanding bureaucracy :)
But that's how I've found it in hiring.
While I definitely agree with your assessment regarding laziness (I don't think I know or have worked with anyone at or from a FAANG that I would describe as "lazy") my experience is that grinding leetcode and systems design is entirely independent from "can actually write complex code and design real world systems".
In the dotcom shadow actually knowing how to get your hands dirty and solve real world problems that might not be sexy or at "Google scale" was the essential differentiator for candidates.
That change won't happen over night though, and I do also suspect you are correct that many of these people will have no trouble finding new jobs. They will have trouble finding the same TC.
The best thing I'll say about Facebook is that their site doesn't give the impression that a ton of talent has been wasted on it.
The article is also poorly written. The author clearly know that Meta is the parent company, so are the 12.000 people across all Meta properties, or just Facebook? Given that Meta, not Facebook, have 83.000 employees (which seems like a lot to be honest), the 12.000 is across all Meta owned companies. That could mean that Meta is dropping a bunch of projects that doesn't make money, firing the people working on them, while those working in profit centers a safe, for now. I wouldn't be surprised if moderations is going to take a big hit.
As others pointed out "quiet layoff" is a weird term to use, that could mean that initially they won't rehire, at least not externally, when people quit.
This is the cost of idiotic name changes. Nobody I know refers to Google the mothership as Alphabet. Meta took more hold, but it’s still fairly common to call the whole thing Facebook.
It’s not like Alphabet is doing anything… alphabetical. And if they did they’d call it Google Spelling anyway.
Alphabet is really a holding company and not a brand. If I open Google.com I don’t see any mention of alphabet. I can’t even imagine how their logo looks like.
(Meta/Facebook employee, but I don’t have any knowledge of this besides public stuff)
The original idea is that the Google founders would use Alphabet as holding company for their "alpha-bets", but apparently since Pichai took over of Alphabet as well this venture is probably also "Killed by Google"...
Facebook changed its name to Meta.
Comparing the two in the way you did is either incredibly ignorant or incredibly disingenuous.
>Facebook changed its name to Meta.
Hey, thanks for that clarification. It was really nice of you t-...
>Comparing the two in the way you did is either incredibly ignorant or incredibly disingenuous.
... oh. Okay then.
There are significant global engineering companies that do real things that benefit the world in concrete ways that have roughly that number of people, including their R&D departments.
In all likelihood we're also not talking Facebook but Meta, i.e. Facebook, Instagram, Whatsapp and whatever else they have been buying up. Depending on how the acquisitions were handled, there's likely a lot of structural redundancies there too.
EDIT: To be clear, I'm not suggesting all of the layoffs were developers. But a company like Meta has a vast number of support staff and this number scales with the number of developers. A good chunk of the layoffs might just be service staff being replaced with external service companies. And even if they layed off thousands of developers, that would likely mean also laying off thousands of other workers no longer needed to support the developers.
If you have something extremely critical you need done and enough resources, especially at a high risk of failure, you often have multiple groups tackling the same problem to increase your odds of overall success.
Example or sources for this claim? I spent close to a decade working there and this doesn’t sound familiar at all.
Also since Meta is multi app you could have one solution for FB and one solution for IG etc.
I'm not falling on my sword to defend Facebook here, BTW. The company does a lot wrong. I just suspect it's not much worse than anyone else.
Spend more time talking to average people.
They will tell you that Facebook, Instagram and WhatsApp are pretty important to them.
Agreed. If someone’s mental model of Facebook, Instagram, and WhatsApp doesn’t extend beyond “scroll through bad posts from distant relatives” then they don’t really understand how those products are used by the general public.
A lot of people in the tech world never really got engaged with social media, stopped visiting (or deleted their accounts), and have anchored their mental models to their personal experience a decade ago. Meanwhile, the world has changed massively and Meta has a lot of users for a reason.
So it’s really not important to most people. It’s numbers are heavily influenced by people who use it because someone or some organization happens to use it.
But that's a really bad way to determine the important of Facebook, for two reasons.
1. You've assumed that the only purpose of Facebook is posting, so a user making an average of one post per week isn't finding it valuable. Bad assumption.
2. You're counting a bizarre measure of market penetration, a standard that only air and food and water would meet. Many, many people don't use cars, and people who do often only use them five days a week. If you think that means cars aren't important to many people, try taking one away!
And that’s the difference between us. If my car disappeared into the ether, I would immediately launch a series of ether-disappearing experiments, systematically trying larger and larger items and video recording the results. I would post these to HN, admittedly in the hopes of going viral while also doing my best to move science forward.
But you? Noooo, just pop over to your insurance company and get a new minivan, leaving the rest of us in the dark about your amazing ether disposal system.
1/4th of all people is a staggeringly large number.
Also, Meta is more than Facebook and they don’t need to post to be using the platform. They have about 3.7 billion monthly active users.
I really don’t understand this knee-jerk drive to try to downplay the scale of a company that has half of the planet as their active user base.
Facebook Marketplace is a whole world of its own. It's become like the Etsy/Ebay/Craigslist in Central America. Payments are confirmed by sending screenshots of bank transfers, and deliveries handed by private post or an informal network of couriers that visit towns and neighborhoods on specific days of the week.
Facebook, Instagram and WhatsApp are only important when life is good. They are icing on the cake. But once things go south, they can be quickly discarded.
Do either of those pages get the power back sooner?
How about regulating and resourcing the power systems so that storms don't frequently take them out. I've lived in the same house for over thirty years and I can count the number of outages on the fingers of one hand. Two of them were planned and all were of less than 24 hours duration.
I'll grant you that I live in an area that doesn't have a lot of storms but even so the electricity company cuts a wide corridor either side of power lines to make sure that trees cannot fall on the lines.
It is not just people talking to each other, several business rely almost completely in WhatsApp around here.
IG is also still the top social media as well globally.
Banks that use WhatsApp for customer support, or restaurant chains that take orders via WhastsApp bots, pay WhatsApp partners for API access.
The payment goes to the WhatsApp partner. What I'm not sure is, if it is distributed between Meta and the WhatsApp Api provider.
I reckon its a bit like email. Great as a top of the funnel customer acquisition tool. Not that great from a money making perspective.
Drugs are important to drug addicts. That's not a reason to praise the dealers for their business acumen.
Facebook and Instagram are exploitative as fuck.
They’ve gotta be two of the least toxic social media sites compared to Facebook, Twitter, YouTube — any why: because the format is cancer to news.
Social media itself is great — Snapchat, IG, BeReal, Radite, Discord as long as they are successfully able keep them from becoming political megaphones. TikTok has come the closest to being a general purpose broadcast social network that hasn’t been corrupted but long term I’m sure it’ll get poisoned too.
No wonder that we get stories of students now revolting against challenging courses: https://www.nytimes.com/2022/10/04/opinion/letters/nyu-tough...
"A key factor is Professor Jones’s observation that about a decade earlier he noticed a loss of focus in students."
The exact timeframe when children who marinated in social media grew up. In the book The Coddling of the American Mind (from two different NYU professors), the authors track a sudden change in student behavior, like intolerance, impatience, fragility - all around 2013.
So we can discuss how "important" it is to them, but we are just now beginning to get data about how these apps absolutely destroy our ability to focus, think, and connect with other humans.
It has been like this for years now.
It also took months and months for them to fix a “phantom message” where it’d show I had a single Messenger message from the main Facebook app, despite there being nothing there (even in the ‘not friends with you’ section, I checked!).
So when I see someone who is going through trauma like this sharing a picture and asking for emotional support I don’t want to block them. I tap “hide” which then promptly does… absolutely nothing.
There is definitely a legitimate use case for the “hide” button where the two things you mentioned won’t really help.
I don't know if these things become fundamentally hard to fix at their scale, like it's possible that a "hide" button becomes too hard to properly implement if your feed suggestion algorithm has to handle millions of users at the same time. It's possible, but sounds hard to believe, because a lot of the quality has degraded in only a couple of years, and they haven't become orders of magnitude larger in that time.
Of course, it would be very reasonable to claim that they simply don't care. But their websites do keep changing, so it's also not like they have decided to halt development of this part of the UX and simply focused on doing advertising right.
Personally, I still suspect that regardless of their motives, there's a high degree of corporate inefficiency.
Regardless thanks to whomever at Facebook who got it fixed.
Edit.
I just saw the photo for their Nebraska data center, so I guess each of their locations are about the same size and shape.
The frontend apps are all the same, whether they have 3 users or 3 billion.
You also end up leaving massive efficiencies on the floor by not hiring more specialists as you scale. This is a good read which explains it in detail https://danluu.com/in-house/
I would also suggest reading their published papers on in house systems to understand the challenges that come with operating at a large scale.
https://news.ycombinator.com/item?id=30940595
I’m sure FB could operate with a range of employees 40k-100k(?), but that number scaling with users is far from surprising.
Product and UI has its own complexities, but it seems clear each product is unique and would require different logic.
I’m still thinking it’s just enough to repair failures in a timely manner (and assuming there is spare capacity so you are not blocked if something breaks). Which means only a few hands on deck and the rest being triaged remotely.
Or not maybe we are still in the 90s when you need someone sitting at a desk in a server room to handle password resets :P
I'm actually surprised there would be that many. This report [1] from the US chamber of commerce says 157 after initial construction and I've seen numbers lower than that. (Some may be a function of presumably outsourced workers like security guards and janitorial services.)
Datacenters bring money to an area while they're being built but there are very few local jobs once they're operational. (Obviously engineers do work connected to datacenters from other locations.)
[1] https://www.uschamber.com/sites/default/files/ctec_datacente...
I really wish local politicians would get this. Here in Norway, several small communities got wooed by businesses wanting free land and cheap electricity for data centers, in return for promises of hundreds if not thousands of jobs from all those supposedly using the data center.
One even ended up having to buy back land they gave for free[1] for ~$700k.
[1]: https://www.nrk.no/nordland/ballangen-ga-bort-tomt-for-a-fa-...
At Meta’s scale, that’s about 1 employee for every 45,000 monthly active users across their platforms. Many of those MAUs are using multiple Meta products.
I’m more surprised that people think this is too many employees. They’re serving a significant portion of the entire world’s population with their products. Of course they’re going to need a lot of employees.
Poor/thrifty users take the same amount of work as users who click on ads and buy stuff.
The question that people have is, "what do the employees actually do?" It's because most people have no idea how labor intensive tech is, nor do they understand the math behind the revenue that 45k active users generate. That said, when you look at 80,000 people "to operate a website" it sounds ridiculous (even thought it probably is not).
But then, Valve was one of the most profitable company per employee count.
[1] https://en.wikipedia.org/wiki/Valve_Corporation
[2] https://www.geekwire.com/2017/valve-reveals-steams-monthly-a...
While I can't answer the question "what does the company need them all for", consider that the company's products are used by ~3.6B people every month, meaning they have about one full-time employee for every ~45,000 users.
Compare this with Google (one employee for every ~29,000 users) or Twitter (one employee for every ~52,000 users). The ballpark is similar, and shows the trend of it being harder to have fewer employees per thousand users (Twitter is much smaller than Meta, and Google twice the size in employee count while reached ~20% more monthly users).
The company generated ~$117B in revenue in 2021, which is ~$1.46M per employee. Profits per employee (net income divided by employee count) was ~$480K/employee.
There will, naturally be a cost of revenue, cost of customer support (even if not all of it in-house).
Also worth considering that Meta is composed like several companies: Facebook, Whatsapp, Instagram, Messenger, Reality Labs and several smaller/larger bets operating pretty independently.
I'd flip your question around: what if Meta had fewer employees, what would it mean? It would mean:
1. Increasing their profitability even further
2. Likely less support for current customers, and less of an ability to invest in forward-looking initiatives
I'm sure shareholders of Meta would be happy with #1. For #2, short-term shareholders would be happy to see all of this go. Long-term shareholders would likely realize there would be a cost to cutting down on customer support and R&D and I would not expect them to support this, given the very high profits Meta already has.
All in all, I find it remarkable that the company can operate with such revenue and profit numbers, and I suspect they are already deliberately hiring employees more conservatively, to keep up this profitability rate.
As a side comment, I have my thoughts on how non-applicable the linked article is for software engineers at Meta, as discussed in this comment [1] on this thread.
> some 12,000 employees could be out of jobs soon.
> "It might look like they are moving on, but the reality is they are being forced out,"
If Meta is going to fire 15% of their staff within the next few weeks, it's not going to be quiet. The way they usually fire under performers isn't abrupt. People get consistent bad evaluations over a couple of halves, then go to a performance improvement programs. I'd assume that this type of things is a legal requirement in Europe.
Not sure how this is going to work.
They need to file legal paperwork for layoffs of this size so "quiet" isn't really a good description.
This many people is like $1.2B annually in savings if every person averages to $100k (which is conservative). They have stated they are leaning into AR/VR and their quarterly reports show other businesses are flat or shrinking. Its okay to have a business division that has a known profit margin and market share and not invest in furthering to expand it.
For what a quiet layoff means, that's easy. All these companies have a performance review system. Employees are effectively stack ranked. Facebook in particular has a target of 10-15% in subpar ratings. These are ratings below MA (Meets All Expectations) including MM (Meets Most), MN (Meets None) and NRL (Non-Regrettable Loss ie an employee who quits that they don't want back). This is the tech equivalent of IBM or GE firing the bottom 10% of staff every year.
So all you do is you get aggressive about PIPs and forcing those subpar ratings out. That's how a quiet layoff will work here.
The second theme is who will this affect. It's naive to think the answer is "low performers". I don't think the young will bear the brunt of this either. Young workers are as a general rule cheaper. Diversity will inevitably enter the picture. jAs a whole, people who good for whatever diversity metrics the company cares about will be forced out less often than those who aren't.
It's actually older workers who will bear the brunt of this as age (ie in the US being over 40 is a protected classs by law) is not a diversity metric I've seen any tech company cares about. Don't bleieve me? Go look at your company's diversity policy. It'll mention specific protected classes. See if age is one of them.
As always, leaf nodes in the org chart and some low level managers will pay the price for poor leadership right up to the executive level. Nobody cares about the metaverse. It's a strategy from a company that has no idea what it should be doing.
Right now, for engineering, what is happening is the revamped performance review process running its course. As with every year, the target for "needs improvement" is 10%, which is not new. Those going on "needs improvement", in the past, did not all go on PIPs. Also, PIPs at Facebook have not been nearly as draconian as at Amazon. With all these details, I find it a very strong stretch to say that "15% of Facebook's workforce may lose jobs."
Originally I wrote in a lot more detail about all of this - and why the Business Insider article likely doesn't apply to engineering - behind a paywall. Seeing this trending on Hacker News, which article I find misleading - an article referencing a public Blind post! - I un-paywalled my reflection, and my own analysis on the situation at Facebook. I personally doubt there is a need for layoffs at Meta, and I'm surprised no other publication points this out. Analyzing the financials gives a very different picture on whether or not any form of layoffs would be needed.
My response / reflection: https://blog.pragmaticengineer.com/meta-layoffs/
These sort of information is strictly VP+/SVP+. Unless you have talked to a few VPs, your prediction is as good as reading tea leaves.
"Executives told directors across the company that they should select at least 15% of their teams to be labeled as 'needs support' in an internal review process, one of the people who spoke with Insider said."
So, as per Insider - and the article this post is about -, this information should be below the VP-level now, at director levels, and widespread in the organization as per Insider's reporting. I talked with people who supposedly should have been told about this 15% target. In engineering, I could not find any sources (including at director-level people).
We'll see soon enough if the Business Insider article is right, as the article claims:
"Several employees told Insider that as much as 15 per cent of the workforce could be cut within the next few weeks."
Let's check back mid-November to see if this did happen by then. If it would, there will be plenty of news on it.
I would not see the business sense. It does not mean that I am right. I offer my analysis, and I cannot predict what will happen, beyond assigning likelihoods to events. I assign a low likelihood of engineering layoffs happening at Meta the coming months. I see an even lower likelihood when considering that right now Business Insider reported about the performance review touchpoint happening - as previously planned - which tends to not be a trigger for letting people go, at least not in bulk.
[1] https://www.businessinsider.com/facebook-quiet-layoffs-will-...
They didn’t build all those huge HQs for them to sit empty.
https://www.businessinsider.com/facebook-mark-zuckerberg-rem...
https://www.bbc.com/news/technology-57425636.amp
https://seekingalpha.com/news/3888616-meta-platforms-working...
Not sure why you think Zuckerberg would be any different.
yes because it is unheard of that execs would do one thing for themselves and require something else for people that work for them.....
Now other big companies that continue to invest in HQs: I wonder.
This happened with Facebook Android app years ago, nearly all mobile devs were in iOS and they were ordered to use Android phone until the app performed as well as the iOS version. Feels like deja vu VR edition.
I don't think that creating fear and uncertainty will bring the ranks back to the offices.
The excuses for not are running out.
I have been downvoted several times for telling this. Remote work will be a net negative for tech people. Apart from the obvious productivity losses(lack of collaboration, and supervision), work is likely to move to places where salaries are lower, and they are likely to be big job cuts, as people realise get invisible and managements feels they don't need them.
The reality is all layoffs are made quietly. It’s not something companies like to shout about
The difference here is the "layoffs" are that they are changing performance targets so more people get fired over the year instead of laying off a bunch of people at once
Forcing 12,000 people to quit instead of firing them would save Facebook millions.
This is the part I don’t understand. What’s to stop people from not working and getting fired/packaged out instead?
What do WFH employees qualify as?
- Probably because they try to avoid needing to given an press statement/explanation to some more official entity.
- The whole meta verse could be going not so grate.
- Advertisement might not be going that well for meta either.
- Facebook is mostly used by older people and at least where I live most of the people have zombie Facebook accounts (i.e. they have one check in once a week due to family/old people connections and don't use it any further then that, so they might count as active users but are de-facto not)
- There had been a lot of whispers going around about people being unhappy about how some of the big tech companies kill competition by buying small startups and then silently dropping them after some time. This can count as not fully legal anti-competitive behavior in some situations so they can't just fire the people they brought, which might have contributed to them overgrowing.
- Silicon Valley has IMHO overpaid developers in average (and _only_ in average, and specific to SV) now that they have for years effectively killed most competition in one way or another (bought up, talent starvation, etc.) they might feel that it's time to lower wages for which they first have to get right of many existing contracts. What is better suited for this then a unstable economy where 1) they have an excuse to fire people 2) they can press lower wages because people are frightened and care more about having a ok paying job then potentially getting a greatly paying job.
- I feel some of the big tech companies work rather inefficient, sure they do have problems only people at their scale have, but then some small dev teams can sometimes compete with their products if you ignore that (and ignore network effect).
- Maybe they want to hide some fishy lay of schemes about not how many but which people they lay of. Potentially outright conflicting with employee protection laws in some states.
uh, I guess this are all wild rumors I have, in the end we will have to wait and see.
There are both federal and state laws that require companies to let the government know if they fire a certain number of people.
Trying to dodge a law that apples to every other company sounds like par for the course for Facebook and the other SV companies that aspire to emulate it.
And I mean especially Facebook is well known for not caring about low as long as they are not forced to.
It was pretty grating so far…
A few weeks ago it was explained that Facebook is telling affected people they are no longer on the team they were on before, and they have X weeks (4?) to apply internally and find a role on a new team. So you're not fired, you just don't have a team and failed to find a new one, so.. see ya?
https://www.businessinsider.in/tech/news/12000-facebook-empl...
Their employees have some fixed amount of time (3 months?) to find another team in the company before they are forced to exit.
It would be easy for the company to arrange it so that high performers find a team easily and low performers are phased out quietly without a team picking them up.
I am not sure how many of the people that the article is describing are software engineers. Contrary to other comments, I believe a large proportion of the workforce that will be removed will be technical.
Yes - in fact this should happen naturally by simply restricting each team's headcount growth, together with shutting down other teams.
I think there's a legitimate issue with how salary expectations have increased during the pandemic. These expectations will now have to be corrected. What's happening at Facebook is just part of that correction.
Google is doing the same thing, as are other tech companies.
2023 is going to be bloody and brutal.
https://www.businessinsider.com/mark-zuckerberg-haircut-expl...
That is, a bunch of people coincidentally ending up on performance plans, to Meta, might not be a "layoff".
I think they believe it show how they are current and on top of things?
Once "quiet quitting" took off the news was awash with stories like :
"You heard of quiet quitting, but quiet [firing, terminating, layoffs] is the next big thing".
Classic news feeds, find something trending, modify it slightly and hope your version trends too?
Mass layoffs are supposed to be formally announced, well structured, and within a set of government-mandated guidelines.
I wonder if they will all be absorbed into the local job market, or if some will have to take lower salaries at remote companies, and perhaps even move to more affordable places?
Additionally the skillset to succeed at a large corp is very different from a startup. It will be a psychological shock to go from a FAANG environment to a small company.
In summary I think there will be some hard life lessons for some previously extremely well compensated tech folks. I hope they saved a lot of their past salaries.
People with high comp aren't there by chance, and don't keep their job if they don't perform consistently at their level.
> Additionally the skillset to succeed at a large corp is very different from a startup
I worked in both environments, and it was quite similar to me. But FAANG was more stressful than the startup (which had investor cash to burn, and no angry customers). Also management is always behind your back and pushing you to your limits, in an environment were almost everyone is good and hard working.
Blind has been salty about this for years, especially since now many of the FAANG cheaters are getting promoted...
The total number of layoffs will probably be less than 12,000 for now though
(yes, weird spelling)
And almost every crazy bet they've made in the last few decades has paid off e.g. AirPods, Watch.
Did that even work though? I know that when I heard about that, it immediately made me discount Facebook's job offer (I was interviewing at the time).
Actually, you can when you make an average of $1.2 million/employee/year in revenue. And an average of $300,000/employee/year in profit.
> That bubble had a slow leak and now they've finally run out of oxygen.
You seem to be confusing Facebook with a no-profits-in-the-history-of-ever unicorn.
For what it's worth, and from the other side of the pond, it looks like IB has been on a rediscovery journey since the late 2000s financial crisis.
First of all the likes of GS are not regarded anymore as the next coming of the Messiah when it comes to holding a job, or at least that was the general feeling around 2006-2008, even going into the financial crisis years. And second, some formally big IBs are actually on the extinction path, I'm thinking mostly about Credit Suisse's IB division and if I'm not mistaken Deutsche is in the same situation.
Companies often announce layoffs for various self-serving reasons. Facebook isn't doing that in this case.
On the technical side: impressive load times, plain JQuery + Bootstrap (respect), and lots of care with keeping IE8 compatibility.
9/10 with one point lost due to lack of HTTPS.
Doing what?
Those 12,000 employees are first in line for every and any job, before anybody who does not have FAANG credentials.
I just think that companies like Facebook are a special case. Here it can be very true, and Meta certainly might consolidate their product lineup. High stakes and generous compensation, but these developments can mean that your position gets cancelled.
If it weren't for TikTok and some other competitors, they probably would have kept their jobs. But the market changes quickly. Facebook is now a network for parents and their children will look elsewhere naturally.
We worked mostly with lingering start-ups who failed to launch, mid-tier companies, and small companies. It all dried up, or the requirements shifted a tier (before mid-level was 3-5 years, now 5-7. Senior positions are basically looking for people with Principle / Staff engineering credentials). Of course, YMMV, we were navigating very specific situations which worked out well for people who are otherwise discriminated against / out of luck for finding work.
Also, anecdotally, the salaries attached to the stream of recruiter spam I receive in my personal e-mail have plummeted. Maybe this is good, smaller companies will be able to hire more staff since salary expectations are lower?
At the same time, I think there’s growing awareness of the “quality” of a lot of tech giants. Once the market gets flooded with people who are too bad to even be retained at companies like Facebook or Google, it may merely end up being a black mark on your résumé.
Similar to how some people choose to leave the specifics of their degree or some unscrupulous jobs off their history when looking for jobs, people may minimize time at a FAANG if thousands of them are entering the market all at once.
When you’ve got 5 applicants who twiddled their thumbs at Facebook for 5 years and all with similarly overinflated work history, someone with a decent GitHub profile and a visibly launched product from a tiny Midwest shop doesn’t look bad.
Like no really, we don't need to argue about a 5 page git branch management and deployment policy for 4 developers. We don't need datadog or whatever for 100KB of text files. Editing that github action that takes 2 hours to generate a docker deployment from scratch is a massive waste of time. etc.
What we do need is something that generates revenue and an engineering philosophy that mainly comes from the rest-and-vest crowd isn't it.
Definitely worth fixing this one.
We can't possibly do things the wrong way, no matter how dumb our current practice is.
Not because they are bad employees, but because they to used/focused/conditioned on Big Tech work. Which has often very different requirements and processes. Or in other words for such employees it can be especially challenging to onboard them. Which historically seem often is combined with an increased risk of them leaving your company not to long after on-boarding, weather that is for a different startup which now takes them or for founding their own company because they have the money reserves to risk it.
Or in other words, it's in general a risk you don't want to take when hiring.
Exceptions include: You have problems to hire anyone qualified. The person can somehow show through other qualifications that this isn't really a risk (pre "big tech" work, sometimes open source contributions but not always, etc).
Person with 1000 GitHub stars likely gets wrecked in leetcode style interviews. Just ask the creator of homebrew (yes, THAT homebrew) about what happened to him when he got an interview with Google
I don't think that's really true. Having a FAANG on your resume increases your chance of getting an interview, but very few companies will employ someone simply because they've come from a FAANG. It will always come down to how well you interview and what your tech test is like. Experience counts for a lot but most companies just don't need the sort of experience working at Facebook gives you.
Mostly off of books bought on amazon.
None of that provides for creative thinking, or real world problem solving. Nor demonstrates it.
Do these candidates interview well with normal corps? I wonder.
I’ve not found other companies interviews to be particularly good either. Non-leetcode interviews get biased a lot towards personality, resume, and ability to BS.
Most companies don't need "rockstars". There's a lot of good tech produced outside of the FAANG bubble.
> The next 5 years are going to be a blood bath for junior, mid-level and just average developers.
A junior or mid-level developer is not the same as an average developer. There are plenty of senior "average" developers, and junior "rockstars". All of this is fine.
(I am not making any claim this is true, but it's the view I encounter)
Personally, having worked in very small orgs (8 people) and moderately large ones (800), there is definitely a culture shock moving down an order of magnitude. You have to be more generalist and keep a very goal-oriented view. Small company work tends to be much higher ambiguity; you have to think about delivering something that may change within a few months, and where outages are seen as 'a good problem to have'. Scaling is less important than agility.
Unless you’re were an early employee, in which case you’re probably going for co-founder roles anyway, that’s if you haven’t retired already.
People should not use Facebook as some kind of canary in the coal mine for tech companies overall. Facebook's star is no longer rising due to recent privacy changes on the Apple platform, but the software sector overall will continue to grow. I don't believe Facebook's decline is some kind of harbinger for the entire industry, since most of the industry is not dependent on violating user privacy to the extent that Facebook has over the last 15 years or so.
And even if the core of what you say is true and the industry overall is headed for contraction, I don't believe the pain will last anywhere near 5 years. Even in the present "crisis" state, anybody with any talent should be able to find a new position in a few months. Looking back to the 2008 crisis, most people were back on track well before the 5-year anniversary.
TLDR: Don't listen to the doomsayers. Even with recent headwinds, I believe tech is still the highest value play for most young people entering the industry today. Unless you've got the chops and the prestige resume to be top of the class at a top law or business program, this is your best shot so you should commit mentally to doing whatever is necessary to maintain your place here. Even if there are a couple lean years, you're going to come out ahead in the long run as one of the people who knows how to control the machines.
1. Failing to justify valuations that were reached during the pandemic. Which come crashing down when interest rates starts rising. So many got caught with unsustainable budgets and commitments
2. Mass quitting that happened during the pandemic which was plugged frivolously by mass^2 hiring.
I don't think tech companies are going anywhere before getting their lost employees back. My thesis is, layoffs will impact new/young hires and newly created units/departments
Trainee staff are not efficient (by definition) and provide a low ratio of productivity to investment. However, so long as your new hires have net positive impact, it's worth having them if gross velocity can expand your share of a growing market.
The market has been ripe for about a decade now, thanks to quantitative easing and cheap capital propping up consumer spend. In addition those low interest rates make it inexpensive to borrow money and hire that army of developers.
Coming into a more cautious market, however, where things are more expensive, the balance shifts more towards spend control and getting value for money. Which is why I think junior hiring will slow down for a few years: more experienced staff are more productive relative to their incomes, and they probably won't be promoted out of IC as quickly as they used to due to businesses slowing down.
I think the age of retraining in tech as a no-brainer is behind us now. To be honest I think that was happening already as the junior market became saturated. New entrants might have to spend more cycles applying for jobs; coding bootcamps may shutter.
I could also imagine the brand signalling not working in the favor of anyone leaving there around now.
Normally, people sometimes leave there because they've decided they want a different kind of work, or a different environment.
But, for the near future, there might be a large number of people forced out of there, ostensibly for poor performance.
When you're sifting through resumes, as much as "got into X" can look like a positive, "possibly spat back out by X" might cancel that out.
Even if 12k are out in the market, there's still a massive shortage for software developers and even though we are training an insane amount of new ones per year the vacant spots are still growing.
Software has eaten the world, there's no industry today that don't depend on software to increase efficiency. There are more and more devices requiring software, in all levels of products from infrastructure to consumer goods.
I really don't understand where do you think we have enough developers so that even "average" developers would suffer. They have experience, they will end up where other "rockstars" (side-note: I absolutely hate this terminology) have left for greener pastures.
I think you should really look at the landscape before writing such a haphazard take, or at least bring some sources on why you think that this will affect in any way the job prospects of new developers for the next 5 years. There's absolutely nothing to sustain your argument more than "I think this".
...like what? What other career exists with such a high average and median income?
and what would that be? In the US at least #LearnToCode was used because we were off shoring every non-tech job, and now those are going away so what is left?
The US for example is in a predicament economically with no clear way out, other than a hard recession. And that's without mentioning the energy crisis still to hit there and the food crisis that is slowly unfolding.
A substantial number of people are still dealing with economic nightmares as a consequence of it. The global economy as a whole is.
I don't think it's unreasonable to ask what these 100k very well paid people are doing all day.
I am very grateful to facebook because without it our business would not exist. But meta is killing their golden goose. People are leaving, advertising is barely worth it and every week there is a new glitch in core functionality. Just recently they moved the message inbox for pages from fb.com/page/inbox to some completely new URL. The old URL just shows a generic error. It's a small thing but it shows how they operate without any regard for their users.