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For anyone with actual skill, nothing really changed. But then again, for people with actual skill nothing has really changed throughout the last 25 years, despite the crisis.

Yes, there was a huge market through Y2K and the dot-com bubble for people who knew how to operate a keyboard, and that market collapsed. But those people where as much developers as I am a surgeon because I know how to apply a band-aid. Personally I was glad the bubble burst, because it became increasingly harder to avoid landing in a place where most of the "developers" weren't utterly incompetent.

HN isn't a representative audience though. Most of those people wouldn't be on the early 2000's equivalents of HN either. If this is a bubble and it bursts, most of HN-ers that get affected won't be out of work for more than a month.

Many may have to take a boring enterprise gig, but that's pretty much how the second wave of internet-companies started: bored and with time on their hands, many hackers started to work on what was then called "social software" projects, which eventually resulted in a wave of social media startups.

Things may be different in SV, especially when it comes to the balance of wages vs cost of living, but SV is an outlier.

This, this, and more this.

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