it also coincided with rate hikes
it coincided with ChatGPT launch, which was incapable of replacing engineers at the time
it coincided with a tech bear market
it coincided with a crypto implosion and web3 bear market as well, which a variety of engineers were involved with or had asset exposure to
the R&D tax credit lapse I think was the biggest one, while the smallest headline. and therefore I think making a whole blog post about the rate hikes exclusively is grasping at straws