This is a topic thats hard to discuss without macro level data. We don’t know this person’s preferences, location, background, etc.
Only one source of course, but I think it's indicative of the state of the overall market.
Wouldn't this mean that capital is flowing in which should lead to more hiring? Is the job market response delayed or are there other factors?
Not really. If the price of shares in your company goes up it doesn't mean you have more cash in your pocket. You would need to sell shares or issue additional shares to have more cash to pay people with. There's other ways an increased price could be beneficial of course.
AI is another wildcard. It remains to be seen exactly how much it will reduce the demand for developers but it seems very likely to at a minimum cut into the entry level job market.
Not necessarily because ‘more inflation adjusted dollars’ but because ‘same thing will be worth more dollars, after inflation’.