The Tech Industry Is In Denial

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The tech industry is in denial? What gave it away? Was it all these insane multi-billion dollar valuations of companies that don't even have a product? Start-ups burning though millions and millions of dollars without anything to show for it? Companies rich with investor cash, filing for IPOs, when they haven't turned a profit yet? I don't see a problem. ;)

Euphoric reaction to superstar tech businesses is rampant — so much so that the tech industry is in denial about looming threats. The tech industry is in a bubble, and there are sufficient indicators for those willing to open their eyes. Rearing unicorns, however, is a distracting fascination.
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Tech industry in denial of bubble, meanwhile regular businesses continue to offer shit pay for unrealistic expectations for IT.
 
It's really just a market valuation of how much customer wingspan these companies have.

Not a rip is given about the actual products of these companies possess - it's more along the lines of how many new customers can we get if we buy up this company.
 
atp1916 said:
It's really just a market valuation of how much customer wingspan these companies have.

Not a rip is given about the actual products of these companies possess - it's more along the lines of how many new customers can we get if we buy up this company.
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That kind of thinking was pretty much the norm during the last tech bubble in the 90's. Things like profitability and having viable products no longer mattered, this was why Yahoo! payed billions for Geocities.
 
Dekoth-E- said:
Tech industry in denial of bubble, meanwhile regular businesses continue to offer shit pay for unrealistic expectations for IT.
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Yet we as a society will keep shouting about how we need more people in STEM, specifically more people in Engineering / IT, and even more specifically Computer Science programs, that if you want to succeed in life, teach yourself programming, regardless of whether or not you have the slightest aptitude for it.

Then when the bubble bursts, people get laid off, and pay continues to stagnate (at least drop relative to inflation), everyone else will say, "Duh, everyone knows you shouldn't have studied CS, you should have studied blah, blah, blah..." whatever else is just shy of the next bubble.
 
Catalan said:
Yet we as a society will keep shouting about how we need more people in STEM, specifically more people in Engineering / IT, and even more specifically Computer Science programs, that if you want to succeed in life, teach yourself programming, regardless of whether or not you have the slightest aptitude for it.

Then when the bubble bursts, people get laid off, and pay continues to stagnate (at least drop relative to inflation), everyone else will say, "Duh, everyone knows you shouldn't have studied CS, you should have studied blah, blah, blah..." whatever else is just shy of the next bubble.
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true, plus after some time after the mass layoffs surviving companies will start hiring again.. and then argue there is no qualified personnel, you know...we just HAD to move to india, or if we just HAD more visas blah blah...
Yeah, of course.. meanwhile typically the longer you are out of the job (no matter the field really) the harder it gets to get a job... ahh awesomeness.
 
Oh yeah, I moved all my 401k "retirement" money out of tech a few months back.
Yeah, its a miserable amount, but gotta protect it, until the burst. Then I will put it back.
I recommended my co-workers to do the same, but I am thinking it fell on deaf ears.
 
We need more people in the trades. There is good money to be had being a plumber, electrician, welder, auto mechanic etc. I guess a lot of kids—or their parents—think such beneath them.
 
Uvaman said:
Oh yeah, I moved all my 401k "retirement" money out of tech a few months back.
Yeah, its a miserable amount, but gotta protect it, until the burst. Then I will put it back.
I recommended my co-workers to do the same, but I am thinking it fell on deaf ears.
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Yeah I did the same. If you look at the market it's crazy overinflated. IMO it should be around 13-14k not 18k.
 
Dekoth-E- said:
Tech industry in denial of bubble, meanwhile regular businesses continue to offer shit pay for unrealistic expectations for IT.
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This is all industries. Right now the only people making good wages are those at the top.
 
Smashing Young Man said:
We need more people in the trades. There is good money to be had being a plumber, electrician, welder, auto mechanic etc. I guess a lot of kids—or their parents—think such beneath them.
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This like no other.

The silly part is that a good tradesman in any of the trades you listed can very, very easily compete wage-wise with your average white collar technically degree'd person right up into the 6 figure range, and then maybe some.

Hell, even this gym equipment repair guy i know makes $22/h servicing Stairmaster lines of equipment.
 
I think a lot of the problems come down to the fact that the tech industry has matured, despite the perception of it. Go to any programming site, and there are tons of threads about "I graduated with a degree in CS, yet all I'm doing are trivial fixes." The wheel has already been written for the most part. Your job is just to keep repairing it from breaking.

The main use for CS graduates is as a cheap replacement for older people. Anyone can fix bugs, so why pay higher wages for people with experience when you can get almost the same job done for a fraction of the cost?
 
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