It would have been a while until you could sell at profit and move, though.

I think I agree. The question is what happens before then. The S&P 500 went down about 40% following 2000 and 2008. The FTSE 100 showed similar losses.

My questions are: Will we still have jobs if there’s a crash? How can we start researching what the optimal hedge is against such a crash?

In the last year we've gone from "this is annoying but sometimes useful" to "I don't need to hire junior engineers". There are some 25 million software engineers worldwide today, and do not ignore Jevon's Paradox - there are far more people who would hire software engineers if the price of engineering was slashed 90% (which is likely an understatement).

If you don't think this will be profitable, you're saying you don't think software, the most profitable enterprise in human history, will be profitable. Looking at it that way, does it make sense why those of us on the business side of software disagree? I've produced more software (and quite good software) in the last six months than I did in the first ten years of my engineering career.