The tech-employee cycle is completely changing

I don't see LLMs as the thing removing people. It will take a good 5-10 years for LLMs to be fully integrated everywhere- from code that makes simple decisions, to code that performs more complex crap. The only thing LLMs will do for the first 5 years is cause more hiring IMO.

No, I think what we're seeing is everyone hired by DEI (the DEI directors themselves, as well as a variety of servicy, accounty, publicisty, supporty roles - that were basically hired during the COVID boom (huge piles of money injected via quantitative easing).

Now that QE is over, loans are hard to get, companies have to have profit or very close to profit - to justify anything "fluffy". So its a doubling down on tech roles, but ease off on almost all soft roles.

Tech cos went from forced hirers to forced firers, and this leaves tech workers in a bit of a hard place.