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Where have all the sacked tech workers gone?

economist.com

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Re: Where have all the sacked tech workers gone?

#11

Post by BigCryo »

jebarker wrote: post #7
scotuswroteus wrote: post #5

Earlier quoted context omitted.

"Where are the non-engineers going, and is it to somewhere that will continue to give them north of 200k per year so they can keep borrowing millions and propping up the artificially inflated housing market in the periphery of the Bay Area," is the question on the minds of those whose clicks I imagine this headline is trying to attract.

Honest question: how is the Bay Area housing market artificially inflated? I assumed the high prices were the normal market response to high demand from many people with deep pockets.

Zoning and other municipal restrictions along with environmental regulations dampen the supply of housing

Re: Where have all the sacked tech workers gone?

#12

Post by _fat_santa »

jebarker wrote: post #7
scotuswroteus wrote: post #5

Earlier quoted context omitted.

"Where are the non-engineers going, and is it to somewhere that will continue to give them north of 200k per year so they can keep borrowing millions and propping up the artificially inflated housing market in the periphery of the Bay Area," is the question on the minds of those whose clicks I imagine this headline is trying to attract.

Honest question: how is the Bay Area housing market artificially inflated? I assumed the high prices were the normal market response to high demand from many people with deep pockets.

The way I see it, you have these tech companies that are writing larger and larger checks to their employees. Combine that with limited housing and you start getting bidding wars from folks making $500k, all of a sudden that house that went for $600k is now going for $1.2M. If you work back from that price you see that the prices would not have been able to go that high had all these tech companies not offered massive comp packages.

Re: Where have all the sacked tech workers gone?

#13

Post by scotuswroteus »

jebarker wrote: post #7
scotuswroteus wrote: post #5

Earlier quoted context omitted.

"Where are the non-engineers going, and is it to somewhere that will continue to give them north of 200k per year so they can keep borrowing millions and propping up the artificially inflated housing market in the periphery of the Bay Area," is the question on the minds of those whose clicks I imagine this headline is trying to attract.

Honest question: how is the Bay Area housing market artificially inflated? I assumed the high prices were the normal market response to high demand from many people with deep pockets.

I'm referring to the most recent artificial fluctuations in home prices that were not caused by some noticeable increase in people living in the Bay capable of paying off a 1.2 M loan, rather than referring to the default baseline of high prices.

Re: Where have all the sacked tech workers gone?

#14

Post by ttobbaybbob »

pm90 wrote: post #2

https://archive.is/nUklO TLDR: * most of the workers being laid off are not engineers * the laid off engineers are either being hired by “old school” industries like John Deere or carmakers or are creating new startups, many around generative AI. Honestly am impressed at how wasteful such articles are in how little content they actually contain.

thank you - this is why i only read articles linked to on hn if the comments make it sound like there's some substance

Re: Where have all the sacked tech workers gone?

#15

Post by dgs_sgd »

jebarker wrote: post #7
scotuswroteus wrote: post #5

Earlier quoted context omitted.

"Where are the non-engineers going, and is it to somewhere that will continue to give them north of 200k per year so they can keep borrowing millions and propping up the artificially inflated housing market in the periphery of the Bay Area," is the question on the minds of those whose clicks I imagine this headline is trying to attract.

Honest question: how is the Bay Area housing market artificially inflated? I assumed the high prices were the normal market response to high demand from many people with deep pockets.

artificially inflated in the sense that if it wasn’t for government regulation that makes building difficult, then the normal market forces that incentivize builders to meet demand would result in costs lower than they are now.

Re: Where have all the sacked tech workers gone?

#16

Post by AnimalMuppet »

dangerboysteve wrote: post #6
pm90 wrote: post #2

https://archive.is/nUklO TLDR: * most of the workers being laid off are not engineers * the laid off engineers are either being hired by “old school” industries like John Deere or carmakers or are creating new startups, many around generative AI. Honestly am impressed at how wasteful such articles are in how little content they actually contain.

Well, when you are a content company like a newspaper, you need to generate content daily. No matter how crappy it is.

But nobody wants to read "content". We want to read things that actually say something. If your newspaper can't write that, then I will stop buying your newspaper.

Re: Where have all the sacked tech workers gone?

#17

Post by mywittyname »

_fat_santa wrote: post #12
jebarker wrote: post #7

Earlier quoted context omitted.

Honest question: how is the Bay Area housing market artificially inflated? I assumed the high prices were the normal market response to high demand from many people with deep pockets.

The way I see it, you have these tech companies that are writing larger and larger checks to their employees. Combine that with limited housing and you start getting bidding wars from folks making $500k, all of a sudden that house that went for $600k is now going for $1.2M. If you work back from that price you see that the prices would not have been able to go that high had all these tech companies not offered massiv…

That's not artificial though, that's fair market pricing. It's growth in income leading to higher prices for goods purchased with that income.

Re: Where have all the sacked tech workers gone?

#18

Post by shams93 »

Being laid off at 50 is fairly brutal but hoping to find something using my django experience and get back to work. Fortunately my mom is still alive I had to move in with her, I had already been laid off once, when you are laid off 2 times in one year they force you to go 6 months with no income whatsoever as a form of punishment.

Re: Where have all the sacked tech workers gone?

#19

Post by indigodaddy »

shams93 wrote: post #18

Being laid off at 50 is fairly brutal but hoping to find something using my django experience and get back to work. Fortunately my mom is still alive I had to move in with her, I had already been laid off once, when you are laid off 2 times in one year they force you to go 6 months with no income whatsoever as a form of punishment.

Sending you good vibes in your search! Good luck to you.

Re: Where have all the sacked tech workers gone?

#20

Post by [deleted] »

pm90 wrote: post #2

https://archive.is/nUklO TLDR: * most of the workers being laid off are not engineers * the laid off engineers are either being hired by “old school” industries like John Deere or carmakers or are creating new startups, many around generative AI. Honestly am impressed at how wasteful such articles are in how little content they actually contain.

[deleted]
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