Bottom line: The competition for artificial intelligence talent in Silicon Valley has reached a fever pitch, with tech giants Meta and OpenAI locked in a high-stakes battle to recruit and retain the industry's brightest minds. This rivalry is reshaping not only compensation norms but also the culture and priorities of AI research teams across the sector.
WTF?! Finding a well-paid coding job is a lot harder today than it was a few years ago, thanks in no small part to AI. Securing one that comes with a six-figure salary is even more difficult, but a couple of software engineers believe they have the answer: offering $10,000 to anyone who can get them a software developer role that pays no less than $100,000 per year.
Salaries have also stagnated, layoffs are second only to the dot-com bubble
The big picture: Job cuts in the tech industry last year were attributed to the need to economize, driven by inflation and a hiring spree during the pandemic. So, what's the explanation this year, especially when many of these firms have accumulated a significant amount of cash?