I know the leftist in me is supposed to have sympathy for these people and get them to unionize. But only after I stop laughing and enjoying this moment. For years these fucks told the rest of us to “learn to code” and pretended like studying anything else at uni was a fucking waste of time.
GUESS WHAT FUCKERS. SO WAS CODING. Looks like we’ll be baristas together, only I’ll have three years of experience!!!
The 2001 crash is a pattern. For years people would "Learn HTML" to get into jobs and others were encouraged to follow. The crash flushed many people out, and outsourcing of the early aughts devastated the whole profession. Today it's "Learn to Code" and "AI" are the new hip terms of art. It's all about slashing labor costs.
it's more interest rates than AI or "learn to code". most of the programming jobs were deeply dependent on VC funding for companies that never intended to make a profit. with the rise in interest rates, VCs stopped getting a continuous influx of cash to invest in these companies so they suddenly want their investments back ASAP. it's why reddit is suddenly IPOing, for example. large companies can't cheap debt to buy smaller competitors, so the only exit plan is to turn a profit - most of these companies planned to get bought out by a larger player. the larger companies are also struggling because higher interest rates mean their customers are spending less, so their bottom lines are looking bleak, hence all the layoffs since fall '22.
You are correct. What I meant is exactly what you say (structurally) because both cases had rising interest rates as a cause, but each instance has it's own buzzwords to "explain" why its happening; Outsourcing -> AI, "Learn HTML" -> "Learn to Code".