> The idea that professional software developers will have their negotiating power depleted is preposterous.
Lol, I heard the same arguments in the 1990s about webmasters, which at that time were also commanding large premiums over the market median. I also remember when any engineer who touched a linux kernel could make 3x "normal developer" wages. Most FAANG engineers aren't working on anything too special; the biggest competition will be off the shelf frameworks/libraries/application which can do what previously required custom work.
We are also in a period of easy investment money - the biggest threat to FAANG companies is the market demanding a return on their investment - P/E ratios are at historically unsustainable levels. Either "this time is different", or this will all end very badly for a lot of people, just like the first dot-com boom.
Yep. We haven't hit a real bear market in quite a while -- even 2008 was mostly a road bump if you were in tech. We'll see what shakes out when everyone isn't getting trivial 20-30% gains in the market every year.
There are good years, and then there are bad years...
Lol, I heard the same arguments in the 1990s about webmasters, which at that time were also commanding large premiums over the market median. I also remember when any engineer who touched a linux kernel could make 3x "normal developer" wages. Most FAANG engineers aren't working on anything too special; the biggest competition will be off the shelf frameworks/libraries/application which can do what previously required custom work.
We are also in a period of easy investment money - the biggest threat to FAANG companies is the market demanding a return on their investment - P/E ratios are at historically unsustainable levels. Either "this time is different", or this will all end very badly for a lot of people, just like the first dot-com boom.