Paying people $100,000 (and even more!) a year just up write “apps” or games —- may be justifiable and sometimes quite profitable for a small number of extra- successful such “products” — but it is a patently unsustainable business model when it is attempted to apply to hundreds or thousands of venture firms.
Any fool can see that the “winnowing out” stage Is now underway.
And the large successful corporations are realizing that they don’t need thousands and thousands of highly paid personnel to do the work of a couple hundred good programmers.
The issues have been accumulating for a number of years. Highly speculative ventures, bloated salaries and bloated staffing.
Markets always get around to correcting … whether we enjoy it or not
“Paying people $100,000 (and even more!)”
$100k is low. They snap people up just to keep them from working for the competition. If tech continues to contract, there will be carnage out there.