Isn't it, for something like 70-80% of families? Just in slow-motion?

How long have we been hearing about crushing affordability problems for property? And how long ago did that start moving into essentials? The COVID-era bullwhip-effect inflation waves triggered a lot of price ratcheting that has slowed but never really reversed. Asset prices are doing great, as people with money continue to need somewhere to put it, and have been very effective at capturing greater and greater shares of productivity increases. But how's the average waiter, cleaning-business sole-proprietor, uber driver, schoolteacher, or pet supply shopowner doing? How's their debt load trending? How's their savings trending?

There’s a difference between a collapse and a slowdown. We don’t need a collapse for hiring to slow down [1,2]. I think we’re finally just seeing the maturation of software development. Software is increasingly a commodity, so maybe the era of crazy growth and hiring is over. I don’t think that we need AI to explain this either, although possibly AI will simply commodify more kinds of software.

[1] https://www.npr.org/2026/02/12/nx-s1-5711455/revised-labor-d...

[2] https://www.marketplace.org/story/2025/12/18/expect-more-of-...

Manager gigs at FAANG are pretty rough right now in my network, you can't be a manager when the higher-ups notice your group isn't a big revenue generator and so doesn't justify new hires and bigger org charts, and cutting the middlemen is the easiest way to juice the ROI numbers. If the ICs that now have 1/3 the managerial structure and have to wear more hats don't turn things around, oh well, it's not a critical area anyway, just nuke it.

You can be an exec with 10-20% fewer random products/departments in your company, and maybe 40% fewer middle managers in the rest of them. You might even get a nice bonus for cutting all that cost! Bonuses for growth, bonuses for "efficiency" when the macro vibe shifts. Trim sails and carry on.