I do feel bad for those who are losing their jobs, it's not their fault. Many of the companies currently firing people simply had too many employees to begin with. Daniel Elk even admits it: "I was too ambitious in investing ahead of our revenue growth".
You would think some companies hired too many, some hired too few, others more or less just stayed the same. Instead we're seeing this groupthink of these so-called geniuses of the industry moving this way and that like a flock of sheep.
Our entire economy is built on short term gain and rewards that. CEOs are worried about their quarterly numbers and are doing layoffs to lessen the blow.
There's not a single person on here who wouldn't be making these decisions right now. You don't call a person who decides to cut their grocery bill dumb and influenced by group think. It's time to save money, and the overall economy recognizes this.
What about Tim Cook?
In Europe for example, as a senior developer you get maybe $70-90k in FAANG and big companies, and $50-70k in smaller companies.
Other countries have much lower cost of living, so I don't see the issue with saleries being lower in those countries.
Again very much depending on which country you're in, I'd say that $50.000 is a starting salary, perhaps on the low-end, for a developer fresh out of school.