This has happened before. From 2000-2004, this was the world. Companies were going out of business or cutting headcount to the bone, and the folks with 7+ years of experience were getting picked up (often at a discount). If you started your first job coding in 1999 and then got laid off half a year later, sucks for you. 2004 both Salesforce, Google, and Blackboard (they were big then!) IPO, and Facebook comes screami…
But of course there are newer things to build, buy that is largely affected by 0% interest rate.