The goal isn't to "build X" anymore, it's to "build X but with N engineers", with N being multiple times the minimum amount needed. This affects how tools are built. They're built "to scale", and this trickles down to smaller companies too. This also affects how software ends up looking, meaning custom GUIs and widgets all the way, even when it's not necessary.
After working in a couple Unicorns where the investors asked for larger headcount, and a short stint in a FAANG, that's my experience.
Maybe there are, I also have no idea. But in my experience most engineers are qualified and hard workers, even when there is team bloat. Companies are hiring well. It's just that they're hiring too much.
> The vast majority of software projects aren't managed by FAANG or Unicorn companies. The financial landscape in those companies is completely detached from reality and not a good basis for comparison.
But this happens on several industries, not only FAANG. Most companies that get off the ground with a skeleton crew will start hiring more as soon as they get more cash, doesn't have to be from investors. That's because they want more things faster. The reality is grimmer, though: 9 women can't make a baby in 1 month. And 9 women can't also make an adult-sized baby in 9 months.