The big money is both piling into a small number of tech companies _and_ demanding layoffs to a degree we didn’t see in past recessions, but unlike in the Bush recession we aren’t going to see consumer demand floating startups, government hiring is dead, non-tech companies are cutting back, and unlike with the web the AI push isn’t going to work the same at the big non-tech organizations as it did two decades ago when there were tons of jobs helping them move online: if AI does have a solid benefit for those companies, it comes in the form of a license more than jobs. You can see that in two ways: all of the people talking about how hard it is to find work, and the flood of App Store submissions but not revenue as a bunch of laid-off tech workers try to find anything which won’t be lost in the noise.

HN as well apparently: https://news.ycombinator.com/item?id=48479101

Don't give us hope.