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I'd guess the sequence is people start off young and naive, live through a downturn and then discover that the contract lays out precisely what their employer thinks of them.

Doing the job then going home is not a new philosophy. The people living to work are just gullible.

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As you work in tech for a number of years you discover that (a) employers don't become permanently more loyal or generous to you if you "work your ass off" and (b) working long hours doesn't actually make you more productive overall anyway. I suspect one reason for ageism in the industry is that management are too inexperienced themselves to have discovered either of these.

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