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Not everyone is winning the AI goldrush Silicon Valley techies have gone from $350K salaries to begging for jobs
Silicon Valley may be in the middle of an Artificial Intelligence gold rush but thousands of former senior programmes and tech workers aren’t feeling it.Those workers — until recently, used to paychecks between $310-340,000 — say the rapid advances in AI have left living on savings and their spouses’ paychecks, despite having top companies on their résumés and PhDs.“You find a lot of people who lack empathy for the tech worker, because they’re like, oh well, they got laid off but they got these huge severance packages,” ex-Google employee Basem Istanbouli told The Post. “My severance package wasn’t huge.
It wasn’t big at all … If I didn’t have a partner, there’s no way I would have been able to stay in the Bay Area.”Silicon Valley took in $92 billion of venture capital last year, 83% of it for AI firms, yet lost 13,100 jobs, according to Joint Venture Silicon Valley’s 2026 Index.Software job postings nationwide are 23% below their pre-pandemic level, data from job site Indeed show.A former Amazon machine-learning scientist with a PhD, who quit to launch a startup that failed, said he applied for 120 jobs in two months but has not had one offer.One company put him through six rounds of interviews before rejecting him.“Having run a startup counts against you.
They think you weren’t content to just do tech, you went off to do your own thing, and when you come back they’re not very willing to take someone who has run a startup,” the scientist, who asked not to be named, told the Post.“In tech you’re a workhorse.You do what you’re told.
You’re not supposed to have ideas.You just have to finish writing the code.”He has a child, a mortgage and about a year of savings left.
His wife, whose job provides the family’s health insurance, has proposed applying for social assistance if he still cannot find work.Before it comes to that, he said, he would swallow his pride.“I’m embarrassed to tell my friends that my startu...