I was wondering ten years ago if online advertising was a bubble. This was sort of a big deal because of both the direct (Google, Facebook, etc.) and indirect (employees, startups snapped up at insane valuations) beneficiaries.

Take that source of money away and it's not clear if you have fewer tech jobs overall. But, while there are other large tech employers who pay at the top tier in this world, I'm guessing there are a lot fewer jobs at that comp level and a lot fewer opportunities for rich startup exits if that particular money faucet were much reduced.