Feels like tech is lurching to the end of a cycle. Not a 2001 level cycle end but something in that league. Then there will just be a burned out field with cheaper dev talent to help grow the greenshoots of the next round of building.
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i think anyone whose only selling point was scale without a path to profitability is going to be toast. hearing stuff on earning calls like "total addressable market" being touted as valuation points was a major red flag for me.
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It was downhill when credentialism started seeping in. A paper mill printing degrees has no business flooding the tech market.
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cheap devs make green shoots
green shoots make valuations soar
soaring valuations make markets crash
market crashes make devs cheap
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Thankfully none of the crypto people learned to code and gen z is very busy playing with their sex bits and making dance moves, so I the cohort of workhorse millennial engineers is probably pretty safe.
Not so much for the beaurocrats in marketing and product.
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I know a lot of real engineers who went to web3 though. Would love to have them back.
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evergreen
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that “cycle” is called web2. and the “next round of building” is called web5 (like web2, but it’s just dating apps)
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time for web69
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