We’ve all heard of different financial bubbles. Based on recent comments by various “tech leaders”. ehmmMusk…ehmmZuck and several others who appear to be encouraging employees to self-filter out of tech businesses. Is it possible that the previous overindulgence in anyone who could spell the word “code” has resulted in a Human asset bubble that needs to be popped?
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Most industries have a boom/bust cycle. IT could be one too. For a long time some courses had waiting lists. They were very popular.
Economic slow down causes employers to be more cautious and maybe to cut costs in anticipation of bad times. This is nothing new. Maybe IT escaped the downcycle last time. But looks like not this time.
The real question is how long will it last. Most employers have a list of good ideas they would like to hire employees to address. They will be back as soon as the bean counters say ok.
What do you think? 6 mo? a year?
Once the feds stop raising interest rates and begin to cut them again, much pressure will be reduced. In the meantime, the earnings pit can seem bottomless. Who knows when we will hit the bottom.