Quincy Larson: Absolutely. And I’ve been pretty – like, we don’t really care one way or the other. We’re thinking over longer time horizons, and I think it’ll correct over time. The number of developer openings is back to where it was around 2020, pre-pandemic. During the pandemic, and everything, there was tons of money, and interest rates were really low, and there was stimulus and all this stuff… And interests spiked. freeCodeCamp, there were days where we were getting more than one million – like two million visits a day, or something like that. We had like a single article that was just blowing up and getting, I don’t know, 10+ million views, or something like that. It was just a collection of free online university courses.
But that had its moment, and we were going viral, so to speak, as the pandemic was going viral and trapping everybody in their homes, and stuff. And so yeah, absolutely, that was a huge year for us, and now we’re kind of having this regression to a mean.
But the difference now is the attitude. The vibe is different now in 2024 than it was in 2022. And I think a lot of that is because employers - they overhired, because they just wanted to grab a whole bunch of talent and hoard it. And that was like “We’ve got all this talent. If we need it, we can use it. We have plenty of cash.” Apple, Google, all these giant corporations have tons of cash, they don’t know what to spend it on, so they were spending it on talent, bringing a bunch of people on, that they didn’t necessarily need, and just doing lots of speculative projects.
But what happened was when the going got a little bit tougher, they’re like “Hey, let’s cut some of these people loose”, and so the market was flooded with mid-level engineers, and it became extremely difficult as an entry level engineer to find really anything.
And so that sentiment spread, and I think it’s definitely harder to get a job now than it was in 2022 as a developer, and people, I think, are blaming AI and the jobs being automated. But what’s really at fault, the real cause - and AI may be a contributor, at least in deluded managers’ minds; they may think [unintelligible 00:29:05.00] A lot of people just looked at Elon Musk and said “Oh, he fired everybody, and Twitter’s still up.” Yeah, Twitter’s still up. But I can tell you as a frequent user of Twitter that it is a shadow of its former self, and that I see a lot of nastiness on Twitter that I didn’t see before… And the features have not been super – I don’t think it’s a [unintelligible 00:29:22.08] company, frankly. Bot that it was ever a [unintelligible 00:29:26.17] company. Mark Zuckerberg used to joke that Twitter was like a clown car that accidentally crashed into a goldmine. And if you read the book Hatching Twitter, it’s like what not to do as a leader. basically.
But my point is, a lot of people look to people like Elon Musk, who’s just like “Fire everybody.” And so you see this hurting. You see all these managers laying people off… And even Apple, which historically never laid people off… Not since the 1990s had they done a layoff… And they laid people off. You know something’s bad when Apple, which has, I don’t know, more than $100 billion in cash that it’s just holding, and it’s choosing to lay people off. And it’s not because it’s – it’s because they overhired, in my opinion, and because now the cost of capital is much higher, and interest rates have changed… And there’s a lot more uncertainty with AI.
[00:30:16.00] I think the uncertainty is much more significant than the actual net improvement in productivity as an individual developer. So you have managers who think “Oh, I can just have one developer do the job of 10 developers if they’re using AI.” I don’t believe that to be the case. I use AI all the time. I probably talk to LLMs more than I talk to any single human being other than my wife and my kids.