Every big tech company's embrace of AI is making all of their employees miserable. Whereas if you're half-competent and at a startup, the AI is an incredible opportunity to try to leap ahead while the prices are subsidized (by the big tech behemoths fighting wth each other) The reason is a complete inversion of Ownership and Agency. For a decade of ZIRP, big tech convinced its employees that they're "changing the wor…
>2021 was the first crack. The comps went crazy, half the industry turned over, and the ones who didn't felt a bitter sting where it became blatantly clear that all the new arrivals were just in it for the $$$, and the companies were willing to pay for the backfills but not to reward the loyalty of the missionaries.
Also SVB collapsed in late 2022, notice that AI hype started right after.