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Ask HN: Is there a bubble in the tech market? Is it about to explode?

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Re: Ask HN: Is there a bubble in the tech market? Is it about to explode?

#41

Post by WithinReason »

tinyprojects wrote: post #13
CommanderData wrote: post #5

In London at least. Tech companies dislike the fact there aren't enough engineers to fill roles which has led to a few things. 1. Permanent salaries on the increase that also has a trickle down effect on other related IT roles. 2. A healthy contracting market with rates steadily increasing despite IR35. Contractors are deciding what they'll be paid and are still be lapped up. Nothings worse then a late or undelivered…

Also noticing this - very hard to find software engineers in the UK right now. Apparently we have a major skill shortage[1] - which I'm not surprised by, given how little CS/coding was pushed in schools 5-10 years ago. [1] https://www.bbc.co.uk/news/technology-62098767

Could it be about attracting talent from abroad instead? I work in the UK and more than 70% of my team is not from the UK. It used to be even more.

Re: Ask HN: Is there a bubble in the tech market? Is it about to explode?

#42

Post by jollybean »

honungsburk wrote: post #6

I live in a European country and our salaries will not go down nor do I expect any layoffs. Your question is very US/Silicon Valley centric.

Salaries won't go down but they will be inflated away.

It's why Fed/ECB targets 2% inflation, to keep the treadmill moving.

Re: Ask HN: Is there a bubble in the tech market? Is it about to explode?

#43

Post by iszomer »

DomesticMouse wrote: post #8

We are about to be called on to automate everything, because we are short workers. And we will be for a decade. That's what you get for replacing the worlds largest generation, the Boomers, with the worlds smallest generation, the Zoomers.

Then what would the generation in between be called? Groomers? Pushing their children to places with higher class expectations with minimal effort?

Re: Ask HN: Is there a bubble in the tech market? Is it about to explode?

#44

Post by unknownsky »

honungsburk wrote: post #6

I live in a European country and our salaries will not go down nor do I expect any layoffs. Your question is very US/Silicon Valley centric.

I live in Sweden and I've seen several big names in tech lay people off this year. Klarna, Boozt, Kry, Storytel, Voi.

Re: Ask HN: Is there a bubble in the tech market? Is it about to explode?

#45

Post by [deleted] »

Mandatum wrote: post #40
alibarber wrote: post #26

Earlier quoted context omitted.

Hmm - I've moved from London to Helsinki. I've been the hiring manager for several (Software Engineer) positions in Finland and it's been quite interesting. The supply of CVs for any position we open there for mid/senior positions is a trickle compared to the UK, and it's not really been like they're all perfectly qualified, there's a lot of 'noise' too. We let go of any geographical constraint, as long as you're wil…

All the UK folks I know fled to the EU and work on visas. Germany, France, Norway, Denmark. Remote roles. All the multinationals who moved IT out of UK after Brexit.. UK just can’t compete. EU is bigger, and have more money. This isn’t even the beginning of pain for Brexit.

[deleted]

Re: Ask HN: Is there a bubble in the tech market? Is it about to explode?

#47

Post by alibarber »

Mandatum wrote: post #40
alibarber wrote: post #26

Earlier quoted context omitted.

Hmm - I've moved from London to Helsinki. I've been the hiring manager for several (Software Engineer) positions in Finland and it's been quite interesting. The supply of CVs for any position we open there for mid/senior positions is a trickle compared to the UK, and it's not really been like they're all perfectly qualified, there's a lot of 'noise' too. We let go of any geographical constraint, as long as you're wil…

All the UK folks I know fled to the EU and work on visas. Germany, France, Norway, Denmark. Remote roles. All the multinationals who moved IT out of UK after Brexit.. UK just can’t compete. EU is bigger, and have more money. This isn’t even the beginning of pain for Brexit.

Not really sure how Brexit would explain my experiences of having fewer candidates in the EU than post-Brexit London.

The EU as a whole surely does have more money, although developer salaries on average are higher in London than many other places in the EU too.

Re: Ask HN: Is there a bubble in the tech market? Is it about to explode?

#48

Post by chucksta »

smeagull wrote: post #20
tinyprojects wrote: post #13

Earlier quoted context omitted.

Also noticing this - very hard to find software engineers in the UK right now. Apparently we have a major skill shortage[1] - which I'm not surprised by, given how little CS/coding was pushed in schools 5-10 years ago. [1] https://www.bbc.co.uk/news/technology-62098767

How is it that Silicon Valley is in America, when we have so many net-savvy tech-heads here. They may have the silicon chip, but we have the silicon chap, and of course, chapesses

More people and more money, but also respect the quip if it was just a setup.

Re: Ask HN: Is there a bubble in the tech market? Is it about to explode?

#49

Post by cutthegrass2 »

Mandatum wrote: post #39
greenpeas wrote: post #34

Earlier quoted context omitted.

sorry, I'm not familiar with the terminology: in £600 - £950pd, "pd" means per day? For what duration are these contracts usually agreed upon?

Usually all start with 6 months and options to extend. Market is the same in Asia Pacific. I’ve yet to work with a client who couldn’t find something for me to do after, they all want to renew unless they’re axing heads across the board. In which case they get me to work remotely and bill directly to the project, whilst funnelling communications through the project manager or tech lead. That way regular employees don…

yep, exactly my experience too.

Never had an initial 6 month contract turn out to be "just" 6 months. Shortest duration during my stints was 18 months (2 renewals).

Re: Ask HN: Is there a bubble in the tech market? Is it about to explode?

#50

Post by sebazzz »

I wonder if companies using tech will go back to preferring CapEx as opposed to high OpEx. Back to buying perpetual licenses that will be renewed when it is worth it instead or because you'll lose access to the product. Partially back to raw hardware or VMs hosted at not one of the usual suspects instead of suboptimal cloud implementations that sometimes resort to expensive VMs anyway because it was implemented by cheap outsourced labor rather than subject matter experts.
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