State of the Market

[TheDude]

But haven't consultancies historically backfilled with contractors?

I guess - I am working for the government via a consultancy and a supplier. The rate is crap presumably because everyone in the supply chain is taking a chunk.

I have had zero contact with the consultancy since starting in September.

I'm not complaining because at least I am getting paid and it is outside but I am on £200 a day less that I was getting in 2013.

[TheDude]

Not the ones from India/off-shore. They normally have a queue of people wanting to work for peanuts and a visa in my experience.

My last city gig was at a European bank. The development floor was at least 80% Indian they were either extremely careful with their money or were getting paid way less than (at least what used used to be) the going rate.

There were exceptions but in general they were lower calibre developers than I was used to working with. I don't blame them for chasing opportunity but if and when they are made redundant some will really struggle.

[The_Equalizer]

It feels like 1999 again...

Although in 1999 there were a vast number of roles. Can't quite imagine what a bust in the current market would look like.

[herman_g]

When someone like him that warns he's really worried about irrational AI investment levels then it's really time to start to worry.

It feels like 1999 again...

AI will have the exact same crash as the dot.com boom. Hard to figure out which one will be bigger.

During the 1999 dot.com boom, any penny stock company that sent out runours of internet involvement went from nothing to gold and then later nothing.

Now, they just stick AI on the back of their name and the stock soars.

A single NVIDIA partner data center (under construction) was shown to need as much electricity to power it as it takes to power NYC, That power does not exist in the USA. Yet, they just keep building those data centers.

The AI revolution is going nowhere. Yet, for now, those AI companies are being pumped with cash with few investors considering the upcoming crash.

[willendure]

AI will have the exact same crash as the dot.com boom. Hard to figure out which one will be bigger.

During the 1999 dot.com boom, any penny stock company that sent out runours of internet involvement went from nothing to gold and then later nothing.

Now, they just stick AI on the back of their name and the stock soars.

A single NVIDIA partner data center (under construction) was shown to need as much electricity to power it as it takes to power NYC, That power does not exist in the USA. Yet, they just keep building those data centers.

The AI revolution is going nowhere. Yet, for now, those AI companies are being pumped with cash with few investors considering the upcoming crash.

Yep. In some sense the really big players look Micrsoft or Google know there will be a crash, but also know they will survive. So competing hard in AI could be a way for them to kill off the competition in the longer term.

Sold all AI stocks I own. Also sold all my bitcoin just as the current downtrend was getting started. Gold miners is where its at for me currently. $$

[herman_g]

Yep. In some sense the really big players look Micrsoft or Google know there will be a crash, but also know they will survive. So competing hard in AI could be a way for them to kill off the competition in the longer term.

Sold all AI stocks I own. Also sold all my bitcoin just as the current downtrend was getting started. Gold miners is where its at for me currently. $$

I'm just a day trader. Still buying and selling stocks that have incorporated AI into their name as the general investment community has no clue about tech. My favourite was an American company that made tennis balls one day and woke up the next day as an AI firm. Stock went straight up and straight down. I manage a 40% gain.

That said, even the best AI firms have no future without huge advancements in power generation.

[Bluenose]

After a really good late September and the whole of October, November has reverted back to the average.

I am not having problems securing work but many others are really struggling.

[Fraidycat]

After a really good late September and the whole of October, November has reverted back to the average.

I am not having problems securing work but many others are really struggling.

And the promising spike up in the jobserve headline number is now back to what it was earlier this year.

40 months, this IT jobs market recession has now turned in to a depression.

With the perm market almost as bad as the contract market from what I can tell.

[oliverson]

So, hot off a banning for calling Reeves ‘Rachel from accounts’, deemed as ‘sexism’. Let’s leave it right there shall we?

in my banned time I have some good news in the form of two offers, one of which I accepted and start Monday possibly. Possibly 2-3 years of work on this project I’m told. Outside IR35 and totally remote. Not the biggest rate I’ve had but the value of the project over time is significant.

Sad to decline the other offer but whilst a higher rate and a more fulfilling project, the duration was short. Again outside IR35 and totally remote except an odd visit to the office once a month or so. On receiving my rejection the client was gutted so I’m told. Feel kind of bad on that but perhaps we can work something out later on. There may be an outside chance of servicing both contracts.

just goes to show that dogged determination pays off in the end and the phrase ‘ when you’re going through hell, keep going’ rings very true.

keep believing people!

[Dorkeaux]

In anticipation of Oliverson's permaban, I'll forgo the "Reply with quote" option.

Congratulations. Have a banana: