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...