Re:Electrical engineers on the brink of extinction threaten ...
by bumby on Tuesday July 19, 2022 @08:23PM
(#32159748)
This is an interesting take. I wonder how much the last 20 years of relatively cheap capital contributed to this. A lot of VC money seems to already have dried up as interest rates start to rise.
Re:Electrical engineers on the brink of extinction threaten ...
by infinite8s on Wednesday July 20, 2022 @07:57PM
(#32174059)
If you look at the explosion in salaries it's mostly been the last decade, which is coincidentally the decade of near 0 interest rates and capital chasing even more tenuous returns (ie the influx of money into VC funds which went into startups)
Re:Electrical engineers on the brink of extinction threaten ...
by bumby on Thursday July 21, 2022 @05:06PM
(#32185076)
In theory, shouldn’t the cheap capital also caused explosion in salaries outside of tech? That didn’t seem to happen over the same time horizon
Re:Electrical engineers on the brink of extinction threaten ...
by infinite8s on Thursday July 28, 2022 @11:32PM
(#32272864)
Well a lot of that capital went into VC funds, and not many VCs are funding things outside of tech.
I don't buy this. I think developers are highly paid because so many jobs are subsidized by VC speculation.
It's easy to get a software job working on a BS product that solves no real problems and eventually disappears. But the money you get paid is real enough in your bank account.
As long as VCs are willing to throw money at any random BS SaaS company that crops up, with the expectation that the losers are going to be outweighed by some unicorn, this will remain the case.
If/when the stock market corrects this free ride is going to be over.
(Disclaimer: I'm a developer, but I no longer work at a tech company)