Anecdotal, I’m in the US (NYC) and the number of unsolicited inbound recruiter pings is back up to 2-3 per week (was getting maybe 1 every month towards the end of last year/early this year). Still down from mid last year when I was getting probably 5 messages a day.
Ask HN: Is the Market Recovering?
81–90 of 104 posts
Re: Ask HN: Is the Market Recovering?
#82Recruiting software founder here.
Job Seekers for tech: seeing lots of people on the market, and the companies that are hiring are not offering FAANG style comp packages.
Startup Funding: It's still slow, and VCs tend to be very cautious lack of easy money from Crypto + GPT uncertainty + SVB has thrown a wrench in things.
When will it recover: A few years for both. Comp got crazy, especially in big tech. It will take a while for generative AI to work iteself out.
Re: Ask HN: Is the Market Recovering?
#83Earlier quoted context omitted.
The US sent something like $100 billion to Ukraine last year which comes out to a grand total of 1.5% of the US budget and 0.4% of the US GDP. Large in absolute terms but not relative terms. That is also about how much the US spent on Afghanistan per year and that was sustained for over 20 years.
Except that it's $100Bn more "printed" and against a high interest backdrop. The fed had to create that $100Bn to loan it to the US govt. The US government has to pay going interest rates for debt. It's a very very expensive choice for something that is not our war. It's something like $1200 per tax payer[1]. I do not support us funding Ukraine's war to the tune of $1200, personally. [1] - https://taxfoundation.org/p…
And all that matters to the discussion how? We're talking about the long term economic impact on the US of supporting this war. By your own math each tax payer already pays $75k/year to support the federal budget. An extra 1.5% isn't going to destroy or slow down the economy even if it's literally burned. And as others have pointed out that 1.5% will mostly go back into the US economy so it's an upper bound on the impact.
Fun fact is that the US made something like $4billion/month last year from gas exports to the EU. Significantly more than previously due to increased demand and increased prices caused by the ongoing Ukraine war. That alone covers half the cost of the aid provided last year. I suspect if you count everything the US aid to Ukraine has already been a net positive for the US economy in terms of ROI.
Re: Ask HN: Is the Market Recovering?
#84Earlier quoted context omitted.
May I ask where you are working now?
As an independent consultant; thinking about starting my own AI company as I can build full MVPs with ChatGPT and vector DBs in like 2 weeks and there is so much demand.
Would you consider working with others? I'm curious about this whole product area
Re: Ask HN: Is the Market Recovering?
#85Earlier quoted context omitted.
As an independent consultant; thinking about starting my own AI company as I can build full MVPs with ChatGPT and vector DBs in like 2 weeks and there is so much demand.
Would you consider working with others? I'm curious about this whole product area
Maybe but right now I have some prototype in the works and a potential customer who requested it so any colab would have to wait until that is done.
Re: Ask HN: Is the Market Recovering?
#86One anecdote here: for me personally the job/funding market collapsed in maybe December of 2022. In November I got ~10 inbound pings from credible recruiters or HR folks at credible shops a week, and that was typical of probably the last 5 or 10 years. In December it was zero and has stayed zero until this month when I’ve had 2. Outbound resumes and pinging the network was pretty much “I wish I could help you” all ye…
> "compensation packages people are talking are still like a quarter of what was typical a year ago if that" You mean much less stock? I can't imagine a senior engineer getting a $50k in annual salary, only in the cash component.
I've been working in tech for 20 years now (longer, if you count internships during college), and while I'm making more than $50K now, it's not by a hell of a lot.
Please, please try to remember that not only is Silicon Valley relatively small in terms of the total number of programmers (of whatever particular job title) it employs, it's also a massive outlier in terms of compensation.
Most places that programmers work don't offer equity of any kind, and $100k is still a high salary for many types of programming and tech work outside of SV.
Re: Ask HN: Is the Market Recovering?
#87The market is down? I'm in Ohio, things haven't cooled off at all.
Compared to what?
Re: Ask HN: Is the Market Recovering?
#88Earlier quoted context omitted.
As someone living nearby and having relatives in Russia ... I don't see a way Russia is able to fight years. They just don't have resources for that. The war in Donbas since 2014 was a tiny and very different one compared to the war since 2022. This doesn't mean that Ukraine will stop to get resources from West if war is over though. Ukraine needs a lot of help years and even decades after the war is over.
Russia has enough foreign reserves [1] to fight for decades [2]. An unfortunate fact but if they're willing to fight until they run out of money its going to be a while. [1]: https://www.statista.com/statistics/1188294/monthly-foreign-... . [2]: https://en.wikipedia.org/wiki/Federal_budget_of_Russia#2020-...
600 billion in reserves, much of which they probably can't spend due to sanctions. 84 billion military budget. Sanctions have supposedly frozen about half of their reserves [0]. I expect the situation will continue to worsen for Russia though, in terms of revenues, expenditures, sanctions, and money going missing due to corruption.
0. https://www.reuters.com/article/ukraine-crisis-russia-reserv...
Re: Ask HN: Is the Market Recovering?
#89Earlier quoted context omitted.
The US sent something like $100 billion to Ukraine last year which comes out to a grand total of 1.5% of the US budget and 0.4% of the US GDP. Large in absolute terms but not relative terms. That is also about how much the US spent on Afghanistan per year and that was sustained for over 20 years.
I mean typically the US doesn't airmail dollars to the warzones. Typically it's a numerical value for the goods & services provided. This means the USG is paying Americans to do stuff for Ukraine which increases demand for US stuff which helps the US economy.
> I mean typically the US doesn't airmail dollars to the warzones.
A significant portion of the help wasn't dollars, but obsolete weapons and ammo from the army's stockpiles, that US gave Ukraine instead of basically disposing of it locally.
Re: Ask HN: Is the Market Recovering?
#90Earlier quoted context omitted.
As someone living nearby and having relatives in Russia ... I don't see a way Russia is able to fight years. They just don't have resources for that. The war in Donbas since 2014 was a tiny and very different one compared to the war since 2022. This doesn't mean that Ukraine will stop to get resources from West if war is over though. Ukraine needs a lot of help years and even decades after the war is over.
Ta all replys above – although economics matter, it doesn't matter too much. It's about people – Russia is already running out of people who are willing to die in Ukraine. I can't see it to last years.
I don't think it matters that much if they're willing. They'll be motivated by NKVD-style second line troops which shoot all deserters.