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Ask HN: Has the tech recession affected you?

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Re: Ask HN: Has the tech recession affected you?

#51

Post by scrollaway »

Significantly.

I manage an AI consultancy (https://ingram.tech/). We were AI/fintech/cybersec before 2023, and grew a lot this past year by putting all our efforts behind the AI branch.

But that's also because the other two branches just... died out. I'm surrounded by enthusiasm, but there's very little money in the game. Budgets have been cut by 10x everywhere. A huge part of the issue I think is actually the disconnect between budgets. Not everybody has caught up to the "new prices".

We started an AI startup incubator/accelerator (https://seven.camp/) and now things are looking up, but that's because we've had to create our own demand.

I dunno, I could talk about this more but it's been pretty demoralizing tbh, especially in Europe. Feel free to AMA.

Re: Ask HN: Has the tech recession affected you?

#52

Post by posix_compliant »

fsloth wrote: post #36
pknomad wrote: post #22

Fortunately, no. I work as a DoE contractor and that means my job is pretty much stable unless I intentionally try to get fired or if the federal government is insolvent (in which case we have a much bigger problem than just 1 random dude not having a job). I turned down an offer from a bulge bracket 2 years ago and I am glad I did because that company had its own little down sizing.

What is ”bulge bracket 2”?

Bulge bracket == large bank

Re: Ask HN: Has the tech recession affected you?

#53

Post by mmmmmbop »

busterarm wrote: post #33
belltaco wrote: post #11

I work in a technology that's great to work in but has a bad reputation in places like HN because of irrational bias, there's no recession and salaries are still going up. Glad it keeps the competition away.

I'm going to guess Palantir or Anduril. Or similar. Honestly they have some really interesting-looking roles open. I've also heard great things about working at Anduril and not-so great things about working at Palantir.

I'm sure they're talking about crypto.

Re: Ask HN: Has the tech recession affected you?

#54

Post by prewett »

arp242 wrote: post #35
ed_balls wrote: post #19

>depths of a serious tech recession? Are we? Who wants to be hired? (2023) Oct: 547 Nov: 431 Dec: 461 ----- Who wants to be hired? (2022) Oct: 272 Nov: 307 Dec: 200

Aside: has anyone actually got value out of "Who wants to be hired?" Because when I posted a few months ago all I got was spam and nonsense. I haven't bothered posting since (well, I did this month).

I haven't used the full-time page, but I had a fantastic experience with a client that found me via the freelancer page a couple months after I posted.

Re: Ask HN: Has the tech recession affected you?

#55

Post by makestuff »

I work in ad tech and we had layoffs last year and no new headcount for this year (even backfills need approval from leadership). Our revenue was up, but IMO we way overtired during the pandemic so I doubt we will hire a lot of people for another 2 years.

The layoffs were mainly ICs so a lot of middle management is left trying to fight for scope to save themselves. I have a feeling that managers are going to be the target of layoffs this year.

Overall I am fortunate to have a job, and just trying to ride this one out for the next 1-2 years. I would like to get promoted or become a team lead/manager but I don’t see that happening right now.

Re: Ask HN: Has the tech recession affected you?

#56

Post by busterarm »

ermir wrote: post #41
ermir wrote: post #26

Struggling a lot with the response rate, once I could get one interview in three applications, now it's one in 50. I am hoping that it will pick up this January since everyone is making plans for the entire year. I was told by a manager in a large startup that they plan to complete hiring for the whole year by the end of February, and it might be the case for the entire industry.

For anyone wondering about the best times to apply, conventional wisdom is that January is the best time, since it's planning season for the whole year, and then around August, to get some quick help to reach the end-of-year goals. Of course this is anecdotal and applies in normal circumstances, which I don't think the industry is at.

A ton of people have the impression that "nobody hires in December" but it's the furthest thing from the truth.

Almost every job I've ever landed I interviewed in December. Just last month I interviewed a dozen people or so for roles in my company. My recruiter friends that I talked to all landed a bunch of offers last month.

Everyone is about to get swarmed with resumes right now but there's a pool out there with a three week headstart and less competition because of the reasoning I mentioned.

Re: Ask HN: Has the tech recession affected you?

#57

Post by ermir »

busterarm wrote: post #56
ermir wrote: post #41

Earlier quoted context omitted.

For anyone wondering about the best times to apply, conventional wisdom is that January is the best time, since it's planning season for the whole year, and then around August, to get some quick help to reach the end-of-year goals. Of course this is anecdotal and applies in normal circumstances, which I don't think the industry is at.

A ton of people have the impression that "nobody hires in December" but it's the furthest thing from the truth. Almost every job I've ever landed I interviewed in December. Just last month I interviewed a dozen people or so for roles in my company. My recruiter friends that I talked to all landed a bunch of offers last month. Everyone is about to get swarmed with resumes right now but there's a pool out there with a…

Ideally you want to apply all the time, and not wait for the best time. Still, I am hoping that applicants will get some encouragement and try a bit harder in the next few weeks.

Re: Ask HN: Has the tech recession affected you?

#60

Post by busterarm »

softfalcon wrote: post #48

I haven't been laid off, but a good chunk of my team was. Anecdotally, I'm hearing lots of stories of companies laying people off and then there are new openings very similar to the position that was let go, but with lower salaries or where one person would be expected to do the work of 2-5 previously laid off folks. In particular, a person I know from EA Games saw half their department let go, and then replacements…

> In particular, a person I know from EA Games saw half their department let go, and then replacements appeared a couple months later. All of them had lower pay and were less skilled. This all reads like quarterly profit optimizations by a bean counter up top looking to make the shares look good.

This is just the regular course of business in the games industry. They like to scale up and down according to need (games in development) and would largely prefer to employ contractors, but laws prevent them working contractors like dogs and studios go where the tax credits are & tax credits require having employees typically.

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