1. Last 10 years of low interest rates and growth made Faang like companies seem much more valuable than they were. Now that tech is making it easier/cheaper to build and compete with their products (think TikTok vs Insta or AI driven frameworks for automating all kinds of workflows) expect the big/old companies to take time to realize and pivot to build more valuable products to stay alive. And it's not just Faang but any companies that are ripe to disruption where if you get hired it may be less stock comp or volatile job durability.
2. Also related to this, the FTC is tightening the screws(meta was blocked from supernatural, Nvidia could not buy arm) so they can't grow the way they did monopolistically like before and expect less of hiring bounties.
3. Seasonal and recession effects will slow down things for a bit but the former will wear off come January. Latter is a wildcard.
4. Don't get the first job you get without vetting the positiom even if it takes 3-4 months to find one(assuming you are not squeezed by issues like immigration or cost of living). Try vetting the companies and see if they value what you have to offer and the place is not toxic. Remember that only cracking the tech round is a zero sum game but mutual value in a work relationship is not and often more important. So vet it well.
5. If it's been a while since you last looked and are procrastinating on practice of leetcode or interview prep cause or you aren't clear on what to do like I am, take care of my mind first. Meditation, simplifying your life, figuring out what you really value in life and why you value it, is useful. Networking and talking to people on what's out there to change what you do is also useful.