If there’s a real downturn we’ll see the big boys cut jobs—maybe a lot. Or even just some regulatory changes (especially reigning in spying and fruits-of-spying monetization) without a broader downturn. Wages downmarket would suffer a ton with all those top-comp folks with (by definition) above-average résumés and work history suddenly looking for a job. Probably upward mobility (into lead/senior/et c.) will suffer a lot. Doesn’t take more supply, lower demand is something we will see again.
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