The State Of The Tech Industry In 2023

[@JohnMichaelReed]

Just because more people are paying for AlgoExpert doesn't mean more people are getting jobs. People who got laid off may be desperately subscribing just in hopes that it'll help them land a job in the future.

[@fdddd2023]

Joe Biden's policies have been heavily criticized for their impact on the economy. Some argue that his measures are not business-friendly, which may have contributed to economic challenges. The tensions with Russia escalated during his administration, which coincided with a downturn in the technology sector. Joe Biden is no 1 reason for current economic situation.

[@mali_Mujo]

Why do I have feeling that you didn't watch video to the end?

[@brandonswenson6215]

This is a fair point. I’d assume the AlgoExpert would lag behind jobs a little.

[@paulsinih7404]

Exactly, this video was nothing more than a plug for his website, his logic is extremely flawed in every point he gave as to the recovery of the tech job market

[@boot-strapper]

thats me

[@BenjoBAM]

This person was barely in the industry. You should certainly be skeptical when hearing his viewpoints.

[@Thiago-pc7vk]

also, he owns a programming tutoring company

[@NocturneSMT3]

Lol and he's very optimistic about people in general

[@aksel58]

and he worked in Google in a senior position..

[@BenjoBAM]

He was an L4 at google and that is not a senior position. It's a midlevel position that's generally given to L3s who have been at google for 1-2 years. Even if he did somehow make it to L5 in a couple of years, that in no way means he's knowledgeable about the industry. He's certainly more of an expert in the interview prep part of the industry.@@aksel58

[@dariadari3370]

​@@Thiago-pc7vkthen explained. There is a crisis, recession and even mids and seniors have problems with finding jobs. Even if there are offers they are for lower money

[@rmdashrfv]

AlgoExpert is a product that focuses on interviewing, not hiring. Your data will lag behind what's actually going on in hiring quite a bit, especially because interviewing in tech takes longer than it does in other industries. For example: If a bunch of layoffs happen, and suddenly 100,000 new people decide to give software engineering a try and they buy AlgoExpert, and 4+ months later, they don't have a job and go back to whatever non SWE work they were doing before, it still shows up in your data as "demand for a product" but the part where they don't get hired will not show up.

[@brandonswenson6215]

More likely a career boom after word gets out that FAANG and other companies are in a hiring frenzy.

[@csmt12]

Good observation

[@thommccarthy1139]

The state of the tech industry is that the job wants 5 years of experience in the exact stack, every time.

[@milancodes]

the tech industry is completely broken. I got laid off 4 months ago and I can't even get a single interview or tech assessment.

[@Shmack_]

Where do you live? I'm in the SF bay area and I'm still being hit up at least 3x a week for $50hr+ jobs. Granted meta,amazon and Uber are no longer "harassing" me to work there but there's alot of smaller or medium sized companies still hiring regularly

[@fart5923]

@@Shmack_ i just graduated with a cs degree i barely get any interviews man its tough out here in boston

[@jasperkim2162]

@Abe A how do you not get interviews? dont you have years of experience from your last job?

[@jasperkim2162]

@Abe A hopefully the market will bounce back to being normal, I thought moments like these were normal, has this happened to you before?

[@Zeegoner]

@@jasperkim2162 ​​⁠ ​​⁠ ​What kind of a stupid question is that? He said he has 5-6 years of work experience *total* and you’re asking if he experienced another tech recession? Btw he told you that in response to your previous question asking “don’t you have years of experience from your last job”. Your questions are inherently condescending, “Jasper”.

[@sebike88]

Clement you don't understand that CEO's are mostly sociopaths. Directors' greed also got people laid off because it's a trend right now even though it wasn't necessary.

[@mikewilliams9527]

CEO’s are hit hard because of layoffs due to it being a reflection of poor hiring strategy and management/vp bloat. The companies lose money over layoffs. Layoffs are a tangible outcome of poor executive leadership. The CEO may not get laid off or suffer financially but I’d bet their ass is in the hot seat as they are responsible for this. Leadership that I’ve worked closet too tend to lose their absolute shit and lay into various team/vertical lead ship for fucking up the hiring strategy and risk management. People don’t do layoffs from the perspective of opportunistic cost cutting. They use layoffs as a last resort tool to rectify mismanagement. It’s not so black and white

[@ConnerArdman]

Welcome back! Glad to know I can cancel all my streaming services and go back to just exclusively watching Clément on KZbin again 😀

[@clem]

You got it! 🤝 I actually recently cancelled all my streaming services and started exclusively watching Conner on KZbin.

[@HypeActiveAA]

When you left I was a freshman studying CS (you might remember me) - fast forward 2023, just finished my 3rd year and about to start a solid f500 swe internship. Glad to see what's coming next bro!

[@kristjanwashere]

I think the analogy of your company to hiring is probably not the best. People usually prepare for interviews before applying for jobs or at least knowing for certain if there is a place for them in the market. I think a better correlation is the health of a platform like indeed, which relies on job positions being posted.

[@clem]

Hmm, could be true, but our company's performance has mimicked the overall trend of that number-of-open-tech-jobs chart, so I do think there's _some_ correlation. It's hard to say. 🤷‍♂

[@freddyspageticode]

​@@clem do you guys do any sort of outcome tracking?

[@Sopris17]

I think this misses a lot of bigger things happening in the world. 1) No one is really sure how bad this coming recession will be. While I don't necessarily subscribe to the dooms day second great depression thoughts, I do think there's a fair chance this one could be painful. 2) No one is sure how much more interest rates are going to rise. Money is no longer cheap, so you better be damn sure you're getting the most return on the people you employ and if you're going to hire someone else, they better damn well be doing the same.

[@frustrated_stuti]

This is so freaky I was thinking just a minute ago why Clement has'nt posted anything lately and there you go he posts a new video

[@clem]

😎

[@Wesley-rn7oc]

So like, is my Google recruiter just playing around? I had one recruiter get laid off and another one hit me up. I can't imagine Google ever stops hiring engineers.

[@clem]

I think Google is still hiring at a much slower pace and for far fewer positions than before. That's what I'm hearing. Think something like 90%-95% reduction in open positions.

[@christersmith5470]

Most big tech are still hiring, just targeting L6+ now.

[@roywastaken]

We missed you papi

[@clem]

😂

[@SuccessfulMiddleclassGuy]

I truly believe in 9-5 job, if you love your 9-5 be positive and just keep changing and growing yourself day by day..

[@GChief117]

By context of overhiring, there’s also the retrospect of the amount of debt also pulled out with 0%/near-to-nothing interest during the pandemic, there were also hiring freezes with google and Microsoft during the pandemic

[@MapleJokerRofl]

SUMMARY: We're screwed all the way into end of 2025!

[@Gabriel-bu1qq]

You made my day man. Love u ❤

[@jimbokf6927]

I'm so happy u come back to tell me more about code interview in Google or Facebook and so on. I'm ready to learn more!(BTW, I'm Taiwanese audience!)

[@clem]

I'm happy to be back! Glad to see someone from Taiwan here!

[@Zeegoner]

⁠​⁠​⁠@@clem Tbh, Clément, yeah! I was about to say I’m also glad to see “someone from Taiwan” here too.

[@DallasFort1857]

I'm looking into becoming a full stack developer. What is your though on the job market for it in the next 6 months? Also, within tech what occupation would you stay is safe from being automatized by AI such as CHATGPT and outsourced? I'm thinking it cybersecurity?

[@vonti5507]

very good question man, did you make headway? im still trying to find this out

[@ihorradchenko7819]

Thanks for this video, Clement!

[@Eugene.Berezin]

I think many software developers are facing a bigger issue. They don’t stand out. They can do anything but at the same time they haven’t master one niche very well.

[@tstivers1990]

Software development *is* the specialization. Maybe you specialize in back end, or front end, or low level development, or DevOps. But, ultimately, the reality is that if you can do any of these roles, you can probably do all of them, with the exception of front end developers tending not to excel at backend and vice versa.

[@Sapperbounded]

That's very much the fault of companies asking for generalists for the last half decade because they didn't want to pay for multiple people in their respective roles.

[@epotnwarlock]

with so much focus on big tech & well known brands, what does the trend look like for smaller companies in mid-sized cities?

[@helloworlditsworld]

It’s tough. Feel like companies are willing to hack together the least viable product and neglect their tech department. I can’t imagine it will play out well for these types of companies in the long run.

[@epotnwarlock]

@@helloworlditsworld i work at a smaller tech company in a smaller mid sized city and they are constantly hiring, im curious if this is similar elsewhere?

[@Bayo106]

​@@epotnwarlockit is

[@jeremyvonhatten5811]

Long time fan of algo expert and your videos. I'd like to hear you talk about the problems with software engineering saturation. Yes I hope you are right, we have hit bottom and companies will start to hire again, but I've also seen companies completely change their hiring models to only want senior level and above, and they know they can do so because the market is flooded with talented engineers who were laid off.

[@clem]

Good video topic--will do a video on it soon! Thank you for your support!

[@spoza72]

They are already scooped up. It's harder to break into the industry but if you have 2 -3 years experience can still write your ticket.

[@Adam-kk7nw]

​@@clemso what your saying that no one want to work anymore

[@sardineBro]

I got laid off it sucked. Had to wade through the garbage and finally got picked up by a tech adjacent company due to all the competition out there rn

[@phillipjo6121]

Rather than hiring more, I'm sure many companies are going to make SWEs work more to speed up productivity. They tried to increase productivity by hiring more SWEs and then realized that it didn't work well. They might hire only a very significant role. The future of SWEs is going to be like CPAs. They used to be highly paid and there were so many demands for them in the past but now the majority of them make an average salary. The job market for them is also kinda moderate.

[@Meskarts]

I would also say (regarding the layoffs in the states) - there alot of people working in "tech" but not actual doing coding or tech.. or even can do that! Alot of yoga chicks were layed off at Twitter - doing none to nothing the last couple years.. People who are really good in tech, will find a job!

[@stevenlopez1717]

A significant piece to this puzzle is the incoming replacement of large percentages of the required labor force through AI application. I don't think anyone would argue that AI has the capacity to replace all jobs today however tedious and time consuming tasks are now being delegate to AI - reallocation of time and projects will result in a substantial reduction of available work. I do not foresee a sudden increase in hiring at any point in the future (at least within mainstream tech). Your last point on non-traditional tech industries opening up to software engineers makes sense but from the perspective of, say, a big bank - profit margin is everything (very different from our future-oriented friends in traditional tech who couldn't care less about profits) and so I think they will be slow to adjusting.

[@Brian12010]

I understand what is being said. But how are the majority of companies overhiring? I mean isn't there a structure in their project management that should have prevented this? I understand a few companies, but what is happening is MAJORITY of companies are either having layoffs,freeze hirings etc. This is a terrible analogy i know, but its like if im the owner of a restaraunt and instead of hiring 6 total employees for a restaraunt that roughly does $2500 a day, i hire 15. But not only this, but EVERY restaraunt in town making this mistake. This is what truly doesn't make sense to me.

[@Zeegoner]

It’s not a mistake. If the restaurant had financial leeway (due to low interest loans) and their competitors are expanding their kitchens, they may reason that they need to hire 15 to expand their kitchen in the short term to compete at all, while knowing that the expanded kitchen would need to be scrapped in a few years when the gravy train ends for all restaurants.

[@fabianschwarzfritz]

I was in one of the companies that are mentioned here and I was in the core of the business and making very direct business impact. So let's be more precise: They cut staff overall across the board and not directly the ones that did not have business impact. Is this a hot take?

[@VinceAggrippino]

I call 🐂💩 I believe you're sincere, but your research is biased toward data that supports the success of your own ventures. Other sources, notably not many on KZbin, say the layoffs are far more than a correction of over-hiring during the pandemic years. Sources which are not focused on tech are suggesting that the US and other economies are headed into a recession. Experienced recruiters (10+ years) have told me first-hand that they are seeing far fewer opportunities than at any other time during their careers.

[@mozord404]

Thank God the normal hair is back too!

[@clem]

😂

[@luxurypeace]

Clement na Idan !!!!!

[@DonutAgain]

I still subscribed to more than 5 streaming services … although I mostly only watch KZbin 😅 … and I also subscribed to algoexpert although I haven’t been using it for the past year

[@freeonfire0]

Thanks Man

[@snehil32]

When people get selected in a firm after taking interview courses and not genuine experience they are bound to get fired.

[@makeldissing1911]

love the vid wish i had more money to spare to buy the preb help after I'm done with my collage degree soon :)

[@MaxMohammadi]

It's crazy how many of my swe friends hate blockchain

[@aldrinseanpereira140]

they laid people off to make way for chatGPT

[@drew9073]

True hires only seniors and instead of hiring juniors then senior will use chatGPT instead of hiring juniors

[@rodney5269]

you should make a banger video for real, new venture

[@Migsfigs]

Where did you get the graph @7:00 ?

[@dajanastojchevska5603]

If they had to do these layoffs due to overhiring, then why are they hiring again, right after layoffs? :)

[@linardni]

Correctly said over hired

[@KevinO-h2q]

Clement my man love to see you back buddy.

[@clem]

Thank you! Love to be back!

[@harsh_hydra12345]

As a high school student , who don't like studies that much i find layoff a good excuse 😂 To say see these all people worked soo hard and lost all in matter of seconds. Btw feel sad for those who lost jobs.

[@overPowerPenguin]

Layoffs and recessions are temporary. At the end, in a reasonable amount of time, these that study as much as they can and could provide value through their work will be ahead of those who wait, do nothing toward or limit themselves to low-end jobs. However, would be smart to focus a more general approach if you're just starting, don't focus on one thing, but maybe learn to improve your problem-solving skills and algorithms, as you can adapt quite fast to a language or a domain when things get again on track.

[@WeTheLittlePeople]

Layoffs will coincide with interest rates now. No company can fund any new project right now, as regional banks have been running scared as depositors remove their cash and throw it into Big Fund money markets (doubt me? check the stats on record amount of cash influx to those companies - Charles Schwab, Vanguard, etc.) So until the Fed reins back in the unprecedent rush to increase interest rates away from the QE days of covid. Only Japan (who arbitrage FX trades us as a baseline currency) has interest rates near 0. So you really have Fiscal policy (Biden Admin) pushing $6 trillion into the economy to fund non-high tech companies. Asset Managers still hold supreme. Just think of a company holding $10 billion of your stock? The threat of them selling off your shares? That will send a CEO's bonuses into nothing burger world. That is what is happening... we need to reign in Asset Managers and stop creating tax loopholes they use to gouge US citizens of jobs, real estate and the type of cars we can drive.

[@viveksingh9223]

Finally, the old hairstyle.😅😅

[@clem]

😂

[@CrescentDolluwu]

Could people seeking more interview prep imply hiring is slowing down, since people are having to do extra preparation for interviews? Like there are less openings so it's more competitive?

[@TomNook.]

oooh new youtuber

[@OT-tn7ci]

Why doesn't he get that many views anymore.

[@TheWizardEngineer]

it's been a while clement

[@clem]

It has!

[@godhandinfamous]

jesus, 3 months? no wonder your videos are not showing up in my feed.

[@ma-tanica]

The bubble is bursting 😅😢

[@ryanjoseph9644]

The future of software engineering: Humans think of efficient solutions to solve problems in natural language. Then the rest the computer do: Translate all the thoughts made to computer code so that the solution can be executed, thanks to large language models like ChatGPT. So in the near future, software engineers need not to code or go low level. Just think how to solve the problem efficiently at high level, natural language.

[@harispapadopoulos4295]

When the world needed him the most...

[@clem]

😂😎

[@Trekers99]

Where da heck have you been?😊

[@rsbah]

So companies overhired you say....then why did they started hiring H1Bs now?😂

[@JMac___]

Let’s go

[@Shmack_]

Is it just back to the numbers before the pandemic checks?($4500/mo to sit at home for 3yrs) the unskilled workers/laborers made more from covid checks so now they dont want to work and therefore nobody is spending money like during covid plus inflation. All the fang companies were seeing tons of money and now the money dried up they gotta cut back everyone hired during that time. Minus meta because they took a hit on the metaverse thing. VR is fun but I wouldn't want to wear it all day or for my meeting with engineers. If meta is lucky they'll bounce back when apple drops their VR/AR headset and people will become interested since they buy and follow everything apple sells

[@Xendrius]

read the 25 illuminati goals

[@TheBlackManMythLegend]

Apple => 0 Layoff.

[@tkdevlop]

people will be pissed if more AI videos 😂

[@moycs777]

just some comment

[@vipulpetkar]

relax bro... why are to shaking and moving too much?

[@thestarinthesky_]

I thought you got married and got busy LOL

[@chaitanyaarora7093]

What kind of jobs will be in demand in this year and onwards???

[@clem]

I still think software engineering jobs will be in demand. But particularly, ML/AI engineers and blockchain developers!

[@xxxxxx89xxxx30]

Hi. All of you who are suffering from these layoffs, i extend an invitation. Come to a "poor" country. Work as a contractor for one the companies that layed you off. Make 1/8 of what you made before, but its ok since everyone is poor. Enjoy life.

[@JMGEntertainmentify]

🤣😂😵

[@Zeegoner]

How about we just get rid of you contractors too, and you become more poor, but it doesn’t matter because everyone there is more poor?

[@victorbjorn2109]

@@Zeegoner The reality is that the remote contractor from "the 3rd world country" does critical IT job for 30-50% rate of the local dev. If company gets rid of such contractor it means they're just done.

[@smerlos]

first comment!

[@very_darkblackman]

Please can anyone assist me to get a laptop.... I'm a CS student and I can barely afford one..... I'm already on student debt... I'll be really glad if anyone can give me a positive response 😒😒

[@thestarinthesky_]

borrow from Equipment Center. I did the same. I am international student and couldn't afford to buy one and my was broken so I borrowed from Equipment Center of my school and kept it for 3 years.

[@very_darkblackman]

@@thestarinthesky_ it's not available here.... Even the school ICT center don't allow student to program with their computers

[@chrisw9597]

Make your own with a raspberry pie and an affordable screen

[@DOCTORKHANblog]

Get a cloud book most at most $200.

[@very_darkblackman]

@@DOCTORKHANblog that money is more than enough to get me a used laptop in my country 😒

[@fernandojavierbianchi431]

but i think that if you have enough guts you can create your own software company for little and medium enterprise

[@HasNoName69]

i didn't even notice