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Comment by scarface_74 | Hacker News Reader

Everyone is trying to find any glimmer of hope for a software development recovery. It ain’t happening, there is way too much of a glut, BigTech has learned to operate leaner and VC funding isn’t coming back since the public market doesn’t want money losing startups and acquisitions are at a much lower valuation. The tax law won’t change that.

Not to mention that the entire US economy is now at the whims of ChatGPT - where the current admiration got its tariff policy from.

https://www.theverge.com/news/642620/trump-tariffs-formula-a...

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I think it’s a material different for SMEs, especially bootstrapped firms small consultancies. But you’re right, I think some skepticism is warranted since there’s a lot of factors depressing the tech sector rn.

>BigTech has learned to operate leaner

I think almost all of big tech have more employees now than they did 3 years ago. There's just not as much growth or anticipation of growth, nor as much turnover.

When VC money is flush in the system, people are leaving their FAANG jobs for crazy scale up money. Now that it's happening less, big tech will have less turnover, etc.

These are some statistics, I just saw on Blind. I didn’t independently verify it.

https://www.teamblind.com/post/The-golden-age-of-high-TC-tec...

The trends aren’t good and that’s before MS just announced a 6% reduction in headcount and doesn’t take into account enterprise devs where most people work.

There are also more people entering the field.

Undoubtedly we are also going to see massive offshoring wave for years to come. Big tech is going to downsize and there is just little sense for most non-tech companies in hiring American software engineers when offices can be spun up elsewhere like India.

> the entire US economy is now at the whims of ChatGPT

Oh, so maybe there IS hope! I'd trust ChatGPT way more than anyone in the current administration.

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