Why do you guys assume that this crisis will hit software development? As far as I can see software development will be one of the fields least hit, possibly even benifiting, by the fallout of the Corona-virus.
Everyone loses in a recession.
I graduated into the dot com bust as a programmer and made it – you will too
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Re: I graduated into the dot com bust as a programmer and made it – you will too
#82Earlier quoted context omitted.
Glad someone else noticed this. We are yet to have a crash from the coronavirus pandemic. You'd need another compound 50% off before I call it a crash.
Indeed, we're currently somewhat above the nadir in 2018 when we were all worried about the effects of 10-25% tariffs on $250 billion of US imports of Chinese products. I don't know about the rest of you, but I am definitely not feeling as confident in the mid-term, or even long-term outlook as I was then in 2018.
I'm neutral on the market right now, I don't think it's entirely unfairly priced. NASDAQ is in the best shape of the indices because tech companies don't seem hugely affected by all this insanity. Most major investment banks are expecting a huge boom in Q4/Q1 and return to business as usual. COVID new cases are trending downwards across all major economies (except the US, to follow soon) [1]
I'm actually feeling better now than I was in October 2018. Rates are lower, tons of financial stimulus, a waning problem and a warming stock market.
Re: I graduated into the dot com bust as a programmer and made it – you will too
#83In the age of RSUs, graduating in the middle of a recession is financially incredible IF you managed to get the job before all the hiring freezes AND it is at one of the publicly traded big N companies with good trade volume. Your RSU price is lower, you get more stock units for the same dollar amount at the time of joining in your initial grant (arguably much more important than refreshers). I have a friend who rece…
Are companies lowering the equity value of their offers currently? They might do that if they believe the stock will recover by 20-30% in 6 months, but I'm not on the job market so I don't know if companies are actually doing this.
Re: I graduated into the dot com bust as a programmer and made it – you will too
#84Earlier quoted context omitted.
Don't count your chickens before they vest, in 6 months somebody might be getting them at $90
It's advisable to hold your RSUs for at least one year for a favourable tax treatment, so the 33% discount he got is still very good; he's likely not going to sell his RSUs in six months. He got the offer and decided on his start date way back in August of last year so any luck he happens by is good luck. He could've chosen to be luckier if the stock price goes down further, but I'd say this is pretty lucky as it is…
You're thinking of ESPP, and that's 12 or 18 months.
Re: I graduated into the dot com bust as a programmer and made it – you will too
#85Why do you guys assume that this crisis will hit software development? As far as I can see software development will be one of the fields least hit, possibly even benifiting, by the fallout of the Corona-virus.
Everyone loses in a recession.
The dot com bust and 9/11 is a good example of the opposite. If you were in real estate around then there was no recession at all.
Re: I graduated into the dot com bust as a programmer and made it – you will too
#86Earlier quoted context omitted.
Ah I'm not too sure. That might be the case.
RSU is taxed at vest, exactly like cash bonus for tax purposes. If you sell it immediately, it's really exactly like cash.
And you can't offset your capital losses with RSU vesting, really really exactly like cash haha.
Re: I graduated into the dot com bust as a programmer and made it – you will too
#87Re: I graduated into the dot com bust as a programmer and made it – you will too
#88It's funny how the author only concerned about YOUNG programmers worrying.
We all worry now.
But I think someone with 10-20 years experience will be better off than someone with 5 months experience...it's better to fire all juniors and leave out a few seniors from a software engineering perspective. juniors are a long term investment and often cause more trouble than provide value.
Re: I graduated into the dot com bust as a programmer and made it – you will too
#89Let's not minimize the difficulty of graduating or coming-of-age in the midst of a recession based on the anecdotal evidence of a privileged few. That's basically inspiration porn.
Re: I graduated into the dot com bust as a programmer and made it – you will too
#90Why do you guys assume that this crisis will hit software development? As far as I can see software development will be one of the fields least hit, possibly even benifiting, by the fallout of the Corona-virus.
Unfortunately, my twitter feed is filled with developers being hit and I have also experienced it without being directly hit.
There are many ways that the crisis can hit software development. Investors are bleeding cash left and right and don't want to invest in anything right now. Products lose appeal. Companies don't want to pick up new software etc.. etc...