Large numbers of skilled software engineers are unemployed for months. Many are unemployed for more than a year.<p>Is this an arbitrage opportunity? What's the best way to harness this concentration of energy?
The best way to harness this is to offer what companies don't: unlimited time off, no return-to-office, health insurance and savings plans that don't kick-back to the company, flat(ter) management, no all-hands meetings...
This happened to me during the dot com bust and I was what I call self-unemployed from 2001-2007. I tried various things to make a living. Developed some games/puzzles websites that still make several hundred bucks every month like clockwork. Tried buying and selling stuff especially dot com surplus stuff like docking stations and also books and music CDs. Bought in quantity at local auctions and on eBay and sold individually through a website or on Amazon. Eventually I studied to become a mortgage broker and passed the real estate exam but then the subprime crisis burst and there was very little demand for mortgage loans anymore. Eventually I landed a software job at a startup and rejoined the full time employed.<p>Maybe create a software co-op where people meet and can give or get help with any projects they are working on. Meet anywhere convenient like local library or office after hours or even someones garage. Nobody gets paid unless by agreement and to make money people need to sell something (maybe just ads). There's a much bigger chance of success than if all the people work independently.
Multiple possibilities exist but everything depends on context and the skill set.<p>One option is to start a consulting business with a group of engineers (essentially a market equivalent of a union but with more legal protections) and start charging very high market rates and nickel-and-dime the client hedge fund style with pass-through fees for everything. Use the knowledge of former jobs’ contracts and undercut on price.<p>If the skill set is very niche and highly specialized you could even attempt cornering the market by recruiting people away that are still employed and sell back their services through the consulting gig (offer profit share as a sweetener, etc.)
It sounds like you're proposing hiring people for less than they used to make. That can absolutely work.<p>The problem tends to be that high unemployment tends to coincide with economic downturns. It's hard to get investment to start a business during such a downturn.
I feel bad for this age cohort.<p>Those a little bit older who started during or right after the dot bomb fiasco knew (or should have known) that software might pay well or "is fun/interesting" but have a plan to get out by 40.<p>I discussed this with same age or older colleagues and tried to impress upon younger colleagues the importance of saving and investing and lifestyle inflation etc.<p>If you started in 2005 or later you could be forgiven for think you'd found the golden ticket and 6 future salaries, bonuses and stock were never going to end just bc you could npm a bunch of js together.
To answer the question directly: there isn't an obvious way that is economical. There's nothing intrinsically valuable about a group of 40+ technologists when most investments seem to be in the AI space or in other hype-driven spaces.<p>I'm 43, about to turn 44, and I've been unemployed for three years. My former employer fired me for not vaxxing despite being a full-time remote employee as I refused to give in to their ridiculous requirement. I've been taking care of my aging parents since then as my dad has developed dementia.<p>I'm interested in working in software again as tech has been my life since I was 13 years old. I've got tons of skills and experience, not just in tech but also leadership, but the prospect of insane hazing rituals known as "tech interviews" has me discouraged. I've been considering starting a tech services business but the economy is rough right now and I'm living in one of the most expensive states in the US.<p>If anyone could use an experienced .NET dev/DevOps or team lead, look me up.
> Is this an arbitrage opportunity? What's the best way to harness this concentration of energy?<p>Here is a profitable idea.<p>Make a group decision and choose a target profitable SaaS company or startup of your choice, replicate it with AI and race the target SaaS company to near zero in pricing and sell your services as the cheapest offering to SMEs and enterprises (assuming you guys have experience in this area)<p>Keep it running or sell it to another business and the collective reaps the profits once the target SaaS company is dead or is unable to compete.<p>Repeat for all or any companies or startups that you wish should not exist or that laid you off in the past
There are two markets. One is this means that you can make software for cheaper. What software didn't exist because it was too expensive to create? Nevermind finding a team in India or Eastern Europe, you can now make a US team and pay them in equity until you get funding/revenue. What underserved niche does your mom/wife/girlfriend/boyfriend/dog currently not have software for, that they'd be worth a couple of bucks for? What niche, existing piece of software is out there that currently sucks?<p>The other market is this cohort themselves. What will "40 year old software engineers without a job" pay for? Food, rent, gym membership, haircuts, Factorio. Figure out something they want/need (other than jobs) that they'll pay for, and make that.
You need new companies to employ them. So maybe online or city based meetups to collaborate the get the new companies started.<p>They don't have to be startups. They can be consultancies.
Hi everyone – I know this might not be the right thread, but I’m a cofounder of an MIT-founded startup looking for an experienced backend developer. If you’re interested in connecting, please reply to this message. Looking forward to chatting!
New OS to beat Linux?<p>Consulting for smaller companies to give them cheap software that helps them with their problems cheap? (And scales revenue with many subscribers) - I could write one example that comes to my mind but I dont want to soubd like a shill<p>Probably some of them are good, but software recruiters have problems to identify who (this happens to many jobs, not only software). I could write a book how recruitment and assessments could be changed to identify real gems.
I would say start an opensource project who's main mission is replacing a big tech app/platform. Bet you could get tons of laid off devs to eagerly contribute to something new and exciting that is taking on the empires.