Same after the dot com crash and outsourcing. Give it 5 years and hiring will be back to normal. Give it 10 and salaries will be even more stratospheric because the pipeline is bone dry now.
Before a big shift: “What could possibly go wrong?”
After a big shift and facing unintended consequences: “How were we supposed to know?”
On a serious note, can't wait to see what salaries I command as a senior dev in a few years...when junior dev pipeline dried up and other older seniors left the industry.
Assuming you find cleaning up vibe (legacy) code fun haha
More likely, they'll lay everyone off and with some luck start hiring them back at same or lower salaries and tell us we're lucky to even have a job, and we'll have no choice but to accept...
I'm not sure how bringing up outsourcing helps what you're saying, because tech salaries went ballistic shortly after outsourcing became popular.
Funny how that was also said at those times.
OK, so I think there is a fair chance it will play out like this: the younger generation won't study CS anymore / learn how to code. Instead, they'll all vibe code.
This will lead to a massive increase in demand for seniors to clean up the vibe code, which isn't working properly or needs maintenance.
This demand increase will be exacerbated by the fact that there will be no new seniors since no one learned how to code...
Fun times ahead.