[eande]

I feel 2001 was far more severe compared to now.

I know since the tech layoffs accelerated in Oct/Nov 2022 some people have a hard time finding new jobs or at the same salary. Particular for newer graduates or people with limited years of experience it is not easy.

But here in the Silicon Valley overall it does not yet really felt that much different. Some companies are still hiring, there are opportunities, roads here have rush hour and restaurants are still see guests coming in.

In 2002/2003 when you drove down N. First Str. in San Jose those buildings were mostly empty. It was scary. Hard to come by any job opportunity and highway 101 had no congestion. Many people moved out of CA at that time and it took years to recover.

To me 2008 with the real estate bubble felt less of an impact as tech was not hit so hard.

Now to me technology companies overall are already in a recession, but in the last few months layoffs, shutdowns have calmed down. Despite the swing back to higher interest rate many businesses are still doing ok, but should the overall economy slow down further in 2024 we might see also more cut downs, more reduction in work force and a weakening housing market might further deteriorate the situation.

I don’t think we are out of the woods yet and maybe a good time to ask in 6-9 months again if www bubble in 2001 was worse