Tech recession reddit. That's a significant chunk of the country.

Tech recession reddit We had tech busts that decimated salaries. As long as you don't have bad reputation in the industry you will always have a job. Do you have sensitivity? Generally a few reasons reccesion happen is from brushing with either a hard brush, aggressively or wrong technique of brushing. It may take few years or it may only take few months. The one huge difference is there simply were not that many tech workers as a percentage of the overall workforce during either of those recessions. 2002-03 recession was dot com bubble burst - Most tech comlanies had PE ratio > 300. Apple on Tuesday announced that its annual developers conference, WWDC, will take place June 10 through June 14. There's certainly been a lot of discussion around the economy heading into recession soon, etc. Intel unveils AI PC program for software developers and hardware It is a reason why a lot of Gen X will never be as secure as Boomers. Economists have two more precise definitions of a recession. Most recessions are mild and happen once a decade, the job market is It’s the opposite—although still a bogus statement. Many American economists have stated that the NBER will backdate the recession as beginning in October or November of 2023. It wasn’t labeled as a recession for political reasons. Devil is in the details. Every previous boom and bust in tech over the decades has resulted in winners and Yet the tech sector—the country’s most dynamic industry—has fallen into a kind of recession characterized by mass layoffs, pervasive hiring freezes, a bear market for tech stocks (their Watching this surge of mass layoffs in big tech companies, plus the lurid chaos unfolding at Twitter over the past few weeks and the spectacular ongoing implosion of crypto, the big question on Each week seems to bring concerning headlines of tech companies laying off employees and implementing hiring freezes while tech stocks get battered, cryptocurrencies We're in the midst of a white-collar recession. They didn't call that a recession. But I know the tech industry. It was all US companies. As others have said, technically, we are already in a recession. A diverse portfolio with varying percentages of stock, fixed income, bitcoin, etc is the answer. Reply reply Reddit's largest economics community. 500k salaries for every software engineer wasn't sustainable. The first, which can be hard to prove, is when an economy is growing at less than its long-term trend rate of growth and has spare CAPACITY. As far as I see even AI won't impact auditor's job security in 20 years. Also, don't forget, a fair number of other countries are now in or might soon be in a recession. "Recession" does not equal "unhappy with personal financial situation" Like it or not, the US GDP is and has been Definitely not recession proof, but I'd rather be a provider than a tech during a recession. Tech companies are buoying the stock market but other industries are suffering mightily & unemployment levels are the worst they've been in quite some time. The claims it was a technical recession is part of a political attempt to call the current administration a bunch of 1984 style language changing liars, which is itself the lie. On May 31, 2023, Reddit announced they were raising the price to make calls to their API from being free to a level that will kill every third party app on Reddit, from Apollo to Reddit is There are two major reasons. Many tech Tech's pandemic bubble has finally burst, demonstrated by layoffs and falling share prices. Tells you they see that as a good investment! It will get worse before it gets better. So many orphaned and failing systems need expensive interventions to keep the business running. 2008-09 - Subprime housing crisis - Fault of Frannie Mae/Frannie Mac - Lehman had bought bonds of this leading to their own bankruptcy. I’m in tech and also (thankfully) still employed. [1] . And yes, the working class has been in a recession and consistent decline for decades, just as wages have been flat since 1979. So basically if you want to live in a cold, economically depressed northern or Midwest state, you can probably find reasonable rent. I really cannot see myself during 4 years than having to go for another 2 years of education. Tech growth will stall until the fed pivots back to low or stable interest rates. Is not A recession & the stock market are 2 different things. The improvements weren’t noticeable in healthy subjects, so they’re theorizing that there is some reason or process going Based on a quick web search, Reddit has approx 700 employees globally. Reddit's largest economics community. I remembered the last time SG was close to a technical recession, gov released quite a few construction projects, and we narrowly avoided it. I've been 'through' two recessions. Members Online. . It's hard to Pata hai recession ke bare me . Tech companies notoriously out hired in the unsustainable 0% interest rate era and that is coming to an end. Serving as a central forum for users to read, discuss, and learn more about topics related to the economic discipline. We’re due for one as a result of 2 years of slowed activity, now we are still due for The tech industry at 0% interest rates could just keep borrowing money at no cost until eventually maybe their user base would grow. When exactly it happens and how bad it’s going to be, no one knows. "The definition" in as much as there actually one is "whenever these guys say so". OpenAI’s Sora Takes About 12 Minutes to Generate 1 Minute Video on NVIDIA H100. If you are passionate about science and tech, you will do just fine. ), you can focus on those SWA is - from what I heard, using tech that died in the 90s. In a technical sense, the US already had a recession last year and it recovered. The biggest tech companies pay ridiculous amounts of money to secure the best talent because code is permissionless and can scale infinitely. Or check it out in the app stores Irish economy falls into technical recession as GDP contracts for second consecutive quarter I remember a couple of months back when the UK was looking down the barrel of a recession and a lot of smug bastards were saying that Ireland is a We may not be in a technical recession but falling demand and all time low consumer confidence sure makes it feel like a recession. Tech (SaaS) is fairly recession proof - and apparently pandemic proof Reply reply CSCareerQuestions protests in solidarity with the developers who made third party reddit apps. Most economists also thought one was likely. 293 subscribers in the SinoDiscussion community. We had busts in the early 90s when we got out of college when they wouldn't hire us, or hired us at lower wages. More importantly however, the behavior of reddit leadership in implementing these changes has been reprehensible. A period of significant inflation is also a difficult economic environment for citizens. Advertising is the first thing businesses cut back on. A lot of the healthier tech companies are still churning fat profits (AMZN, META, APPL, etc). But short of a recession, the next biggest risk is continued devaluation of the dollar. I personally take 4-6g a day and have for years. Serving as a central forum for users to This is an induced recession. So many tech companies paid salaries that never made sense for profitability, but who cares because it's all borrowed money at 0% interest anyway. A recession is defined as 2 consecutive quarters of negative growth (GDP). They want a good old fashion blood letting recession to flush out workers reset the power dynamics and lower cost of human capital. We have written rules to support this aim and welcome those who want to learn and those who want to contribute. My 5 cents is that the impact of an actual technical recession might cause a self-fulfilling prophecy and start a downward spiral. And this is always bad. For more info go to /r That's I'd say a 2-3 mm recession. Honestly if we’re in a technical recession (as it seems we are) is that Get the Reddit app Scan this QR code to download the app now. Rad techs have it much better than most in the hospital, further training into CT or MRI means an even better quality of work life. To be really fair, I had no idea it was that high. This has been true for some time though and is not an outcome of the current recession, but rather Seeing all the tech layoffs reminds me of mass layoffs in 2008 and early 2010s. They are definitely NOT shifting into blue chip / value stocks. tadjo20 • People will seriously sit there for 10 years straight going “a recession is coming a recession is coming a recession is coming” and then when it eventually happens a decade later unironically look you straight in the eyes and go “I told you so” completely oblivious to the other 9 years in a row they were wrong. Its just that kuch cousins and ek uncle hai jinhone tier 69 college se padhke ( ek ne to polytechnic kia tha ) aj lakhs me kamate hai , Posted by u/Honest_Box_2390 - 170 votes and 234 comments It's also why much of the opposition to immigrants in the United States is performative and political theater. The strong job market is still plugging along too. If recession hits, I’ll have to comeback to India with my Master’s degree and a huge debt. There will be a tech upturn cycle. This sub will be private for at least a week from June 12th. Now, new data from LinkedIn — which tracked how often its users landed new jobs — shows which white-collar jobs are being The tech downturn/upturn cycle has happened before, and it will happen again. That means for Large picture Tech companies were paying too much for employees in 2022. I was lucky I had a stable job during the Great Recession, but I worked there only as long as I had to--when I took the job in Feb of '08, I hoped I'd be back to my actual line of work again in a year. By definition a recession means that the global economic output in a country stops growing, worse it is diminishing. Can we please split "Tech" out Tech layoffs surpass Great Recession levels, set to get worse in early 2023. View community ranking In the Top 5% of largest communities on Reddit. MSFT, GOOG, and AMZN. By 2001, it was like 1/4" thick - all from lost ads. The cause of the layoffs and the recession is in the Federal Reserve's policy. Also any encouragement welcome, I’m feeling scared. The percentages are up to you based on your needs, future, age, etc. Boneloss can cause recession I've heard grinding can impact recession too but this looks too localized for that. Their valuations got hit really hard when interest rates rose (because opportunity cost of owning tech. There’s a geographic aspect to the economy, sectors etc. More posts you may like Recession is definitely something that we watch, but something else to consider is if you have thinner gum tissue in certain areas and how much attached gingiva you have ! That can contribute to what recall interval we suggest . More emergent problems due to poor healthcare decisions. That's a significant chunk of the country. The argument of my post is that there are such labor shortages in tech that we may never see a 5% unemployment rate despite being in a recession. "To big to fail" is like "trickle down economics" and in a recession there will be a lot of companies that are "to big to fail" who make record profits and hoover up small businesses. It's a very frivolous engineered statistic when the reality is that everybody is getting poorer bit because you can show that there's more money in the system then there's nothing wrong. Or check it out in the app stores What are the “recession proof” fields for the coming year or two? but the industries it serves. [2] . Its like your uncle dying 20 years ago, you rez him and he's brain dead, so you spoon feed him and diaper him for a few years. we can also spin off a PMC since most guys here have basic military training. It goes both ways. The tech companies laid of tones of folks in a plea to the bear market it will result in probably lower returns long term since they were short sited, but the bears got there flesh. when I’m out the pubs are jam packed and according to Reddit half the country is on skis every weekend. Second is that the current administration has kept government spending as a percentage of GDP at the highest level it's ever been, apart from during Covid and the aftermath of the global financial crisis. A healthy amount of unemployment is considered around 4% and economists often look for 5%+ employment as a recession indicator. View community ranking In the Top 1% of largest communities on Reddit. IT related jobs only went negative (slightly) last month despite all these layoffs. Reply reply Top 1% Rank by size . Without getting too much into the weeds of that, we'll certainly be in a better spot in 2-3 years if inflation cools down and interest rates start getting cut. The difference between starting before this recession and starting during this recession is how you maintain that balance. Don't worry about that. From what I experienced the last recession, we did have a lot of no-shows on the schedule and more slow days. Last year was a bumper year but this year wont be able to match last year We're absolutely not in a recession as that is a falsifiable defined term with conditions that are not even close to met. What a junk reason. I don't think hedging due to the current risks is a bad idea at all, I'm doing it. While many may argue the economy is not in a recession, the tech industry definitely is. The theory is a recession that is caused by high-interest rates, which are controlled, will be less impactful than one caused by high inflation. Recessions have also been declared without 2 consecutive quarters of GDP decline (2001). reddit's new API changes kill third party apps that offer accessibility features, mod tools, and other features not found in the first party app. I remember in 1999, a copy of Vanity Fair was like an inch thick. Join and Discuss evolving technology, new entrants, charging infrastructure, government policy, and the ins and outs of EV ownership right here. Or check it out in the app stores implying the country has narrowly avoided a technical recession that is defined by two successive quarters of consecutive GDP declines. By the time a recession is called, stocks are way up. If you are in Michigan and the auto industry is going through a skid, or oil in TX, or tech in Northern CAyou and your neighbor could lose your jobs and the overall economy could be perfectly fine. I don’t think it’ll even be close in the end. Reminds me of USA in 2022 when we had a technical recession but amazing I think the cuts are due to tech companies needing to increase profitability to increase their valuation. This was the fourth consecutive quarter of decline, meaning that the Irish economy is technically in recession. But hey, it's just tech Tech debt is my bread and butter. First is we printed a huge amount of money during the pandemic. Recession that wipes out inflation would be the best scenario for the US in the long run. would rather buy bonds / treasuries that Even if we do avoid a recession we are likely to feel the spill over effects of a US recession. The reason I'm mentioning this is Australia goes by the definition of a "technical" recession which is 2 negative quarters of GDP, so it's possible we won't have a technical recession however I do think we likely will anyway. Not that long ago, almost every company discussed recession probabilities on their quarterly conference calls. reddit's new API changes kill third party apps that offer accessibility features, mod tools, and other features not found in the first A recession isn't the only type of difficult economic time. I wouldn’t say this is special to the IT sector. We had this recession where a lot of us lost our houses. if you pay someone 400k a year for their code, their code can serve basically an infinite amount of people with no extra cost of replication A technical recession is defined a two quarters of negative growth. Rad/CT/MRI are typically one of the least burnt out and happiest people in the hospital. [3] . The "recession" at the beginning of last year was largely related to Walmart and Target ordering the wrong shit at the end of 2021, on the assumption we were going to be trapped in our houses forever, and working down that Didn't we actually have a technical recession about 2 years ago? Come on, bucko. What tech recession? The FAANGs over staffed during the pandemic and laid some off but are still at high levels. Because I like that idea of building an app. Most ‘economists’ on Reddit do not believe a recession is possible. A recession will just centralise this even more, big business will take over even more small businesses which don't have access to the tax wealth. It's pretty recession proof. But the "real recession", I do not know what the experts mean by that, will happen next year. If you have an interest or knowledge of certain industries (examples such as technology, medical, construction, etc. CSCareerQuestions protests in solidarity with the developers who made third party reddit apps. When will recession hit the tech market? I’ll be completing my MS from the US in 2024, should I be worried? I’ll be going for my MS in September this year to the US. Rent up, Private property price up, COE UP, not much retrenchment (except tech) and on the surface everybody seems to be doing ok, at least from what I see around my friends and my industry. Presumably, a small core of programmers and techs is sufficient to maintain Twitter. Like housing, banks and the tech industry. Reddit iOS Reddit Android Reddit Premium About Reddit Advertise Blog Careers Press. The tech recession started in January when the Fed started raising rates and the stock market crashed. The zero interest rate policy era is over, and we don't have much money to spend on hiring dumbfucks just to fill the offices. e. It's already clear tech jobs are in a recession, but how does this play out for people that have already been getting screwed their entire career? CSCareerQuestions protests in solidarity with the developers who made third party reddit apps. UAE So, we're in a recession (per capita) as opposed to a recession (technical) or recession (GDP). The US economy is flashing a recession warning that has only been wrong once in the last century, top economist says I'm in a CFO workgroup which has members from everything from venture-backed tech, public tech companies, Technical recession is 2 consecutive quarters of negative year-on-year growth. Also we are not in a recession should be recession proof as long as china remains a threat to taiwan. A recent Reddit policy change threatens to kill many beloved third-party mobile apps, making a great many quality-of-life features not seen in the official mobile app permanently inaccessible to users. Most PA firms are understaffed to begin with, so whoever panicked during a recession laid off employees will soon regret and starting to hire people back. Discussion: EV Buyout Targets Then usually you get a recession like 6 months afterwards, because there is so much inertia in the system. Don't worry about specifics of tech downturn or when the tech upturn will happen. 1 I'm currently doing software development in my free time. The trick is ok, sure, but how. What are some decent career paths that are recession Proof Industries? careers that may only require 6 months to 2 or 3 years of education. Related Topics Technology comment sorted by Best Top New Controversial Q&A Add a Comment. Tech layoffs vs 2008 recession but I believe prior to 08 by a bit. During a recession, organizations will be comfort writing off losses, shareholders will be okay with it. If you're in tech, find your pivot out to where your background/skills are applicable in another industry. But, stocks could also rally 20% in 2025. I think this year will be the last of the downturn or stagnation. Here's a nice "graduates by year" graphic (US grads . A recession has an explicit definition as a period of declining real GDP growth and is often (but not always) accompanied by deflation. Patients waiting longer and longer between routine exams. But the research papers I read specifically said that connective tissue disorder people perform better with higher doses. Lol, well I’m the wrong person to ask about that as I believe the RDA is set super low. I've been reading that chances of recession happening are 50% so I started having doubts. Reddit community for TheFinanceNewsletter. Yea, if I could go back I would have became a cat scan tech or dental hygienist vs getting my finance degree. I’m cautiously optimistic that tech companies will figure it out. It's not a recession, motherfuckers. It's just childish delusion. com and its 50,000+ readers to debate money, finance, investing, stocks, financial news, personal finance, real estate and crypto (from different view points). A recession is defined as 2 consecutive quarters of negative GDP growth, which happened last year there. They believe the risk of The Great Recession had such a slow jobs recovery and salaries never really caught up afterwards. You may have missed the bottom, or you may get another chance, but waiting until we are in a recession to buy stocks is a losing game. My sisters friends husband is a cat scan tech making $90,000 per year only working 4 days per week. Big tech already doing mass layoffs with more to come. Or in some areas if population is declining rents may go down, think too many rental homes, not enough people. Actually, I'd say that is THE biggest risk. The boom in CS majors really came 2010+. Revenues are still up at most of these companies. The CSO noted that the shrinking of the economy last quarter was driven largely by a contraction in multinational industry as multinational-dominated sectors account for more than half (52 per cent) of all total value added in the Just saw a stat on CNBC stating there have been 210k tech workers laid off in 2022 with more to come in 2023. I have heard the media claim no recession, to a soft landing, and now maybe a mild recession. Now they see they can shed expensive hires that aren't adding to the bottom line. It has been known for decades that one of the easiest ways to tackle illegal immigration would be to go after the employers who employ them - something that politicians who are keenly aware of how important immigrants are to driving the economy have avoided even talking Recession Broadly speaking, a period of slow or negative economic GROWTH, usually accompanied by rising UNEMPLOYMENT. Then he dies so you just kinda trot out the corpse every once in a while, ala weekend at Bernies. So few experienced people willing to wade into the s’t show. reddit's new API changes kill third party apps that offer accessibility features, mod tools, and other features not found in the first party app Tech is going to be brutal for the rest of 2024 and beyond. Keep pretending it's all 'ok', it is not. It's been over a month already and Twitter is still seemingly running fine. Much of the other staff was for non-tech related things, such as compliance, moderation, sales, etc. reddit's new API changes kill third party apps that offer accessibility features, mod tools, and I don't think Indians understand how the tech market works. A recession could cause an increase in rental demand if people can not afford to buy. FB has 0 debt, and their users will keep using their product more during a recession. we can get the licensing from established MIC and then we producing ammunition and weapons for those US allies. And yes, the FRB wants high unemployment in order to control inflation. Iits , nits , b-schools sab affected hai , companies hiring freeze me hai after overspending in covid . How do they plan to weather the storm and what affect does he think that will have on the technology budget. Rebalance if/when the bonds portion increases. A place to discuss the subreddit that is /r/Sino The recession you're probably thinking of is where people start getting laid off, unemployment goes up, and asset prices start falling, which is going to be different than "technical" recession that you'll hear some people throwing around (2 consecutive quarters of negative GDP growth) Recession only in reddit, people are snapping up condo and paying $140k coe. 2023 is interesting it's like the economy is still going strong but there are lots of indicators that are flashing red. And I know a dental hygienist making $100,000 per year working a regular 38 hours per week. When everyone was making angry posts about how unfair is capitalism the 1% who controls everything, the 99% how should have the power etc. Do you remember 2011. It was a common opinion. Tech isn’t going anywhere but a lot of the fat is going to use the following search parameters to narrow your results: subreddit:subreddit find submissions in "subreddit" author:username find submissions by "username" Over 150,000 tech workers were laid off as tech companies trimmed the extra workers they hired during the pandemic to handle current and future needs. I. Last quarter of 2019, Japan already was under negative economic growth due to increased consumption tax, and technical recession is considered 2 consecutive quarter with such condition A reddit dedicated to the profession of Computer System Administration. Recession is two quarters of negative growth. Local tech recession? This is the Reddit community for EV owners and enthusiasts. 3 Trillion market opportunity. Reply reply The most boring “non-Reddit” advice is what you should be following. I entered the field (full time at least) around 2003, but had been working in tech all through high school so I technically witnessed both the dotcom crash and 2008. 2000is dot com bust, 2008 recession, 2020 covid downturn, all resulted in massive tech upturns later. There are some scenarios that can mean that there's actual month-on-month / quarter-on-quarter growth while simultaneously being in a 'technical Reddit's largest economics community. The working class has been in a *deep recession* since 2008. Recessions will drive even more cloud adoption, which is a $2. businessinsider. It is not "The definition" but a general rule of thumb. The tech industry branches into virtually every critical aspect of the economy; healthcare, defense, finance, you name it A weak tech sector will inevitably lead to reduced innovation, and shit economic growth overall. Those that started before the recession should have been rebalancing their stocks/bonds to maintain their desired ration as their stocks appreciated. Headline was very similar to this one. Also MFs will keep getting ransomwared left and right. Elon Musk says all Premium subscribers on X will gain access to AI chatbot Grok this week. Usually a "proper" recession is accompanied by elevated unemployment, I believe we're close to full employment in Ireland currently. The tech job recession is over / Tech companies laid off more than 300,000 employees in the first half of 2023. Covid stimulus overshot the mark. One of the biggest write off opportunities is legacy tech debt such as data centers. Google is eating $3 BILLION in severance packages for those they've recently laid off. Apple Shares Close at Record in Latest Sign of Big Tech’s Dominance (Bloomberg) Stock Market This is the stock’s first record close Just a correction. 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Tech recession reddit. That's a significant chunk of the country.