The job market opened my eyes: here is how

Summary

The speaker reflects on their experience in the tech industry, questioning the traditional belief in higher education as a path to financial stability. They discuss the harsh realities of job insecurity, long hours, and the power dynamics that leave employees dispensable. The video highlights the global job market trends, including outsourcing and the rise of an attention-based economy, where social media influencers earn more than skilled workers. The speaker advocates for entrepreneurship and the freedom it offers, suggesting it as a way to counter the challenges of the modern workforce.

Takeaways

• 🔍 The job market's harsh realities have led to a reevaluation of traditional beliefs about higher education and financial stability.
• 💼 The power dynamics in the workplace often favor employers, with employees facing burnout, long hours, and the threat of being laid off without notice.
• 🎓 Despite having a master's degree, the job search was challenging, with high expectations from employers and a competitive applicant pool.
• 📈 The North American workforce is becoming less attractive to large corporations due to high costs and demands, leading to job outsourcing to countries with lower labor costs.
• 🌐 Globalization and the rise of economies like India and China are creating a surplus of educated professionals, increasing competition for jobs traditionally held by Western workers.
• 🏙️ The fear of job loss is pervasive, even among senior engineers, due to the transient nature of employment in large corporations.
• 📉 The transition from a knowledge-based to an attention-based economy is favoring those who can capture public attention, such as social media influencers, over traditional knowledge workers like engineers.
• 🚫 The current work culture, characterized by long hours and high stress, is detrimental to personal well-being and social life, leading to loneliness and a decline in quality of life.
• 💡 Entrepreneurship and small business ownership are presented as a path to freedom and creativity, allowing individuals to take control of their work and lives.
• 🌟 The script advocates for a shift in mindset from being an employee to being one's own boss, embracing risk and creativity for a more fulfilling life.

Q & A

What realization did the speaker have after working as an engineer in the high-tech industry?

The speaker realized that the power dynamics in the job market are heavily against common working men and women, and that the traditional belief in higher education as a ticket to financial success and stability is being challenged.

How does the speaker describe the hiring process in the high-tech industry?

The speaker describes the hiring process as extremely competitive, with hiring managers having inflated expectations and being bombarded by hundreds of applicants, leading to a high-pressure interview process.

What was the speaker's experience with overtime work in their first job?

The speaker had to work four to five hours of overtime without pay, which led them to decide to leave the company due to the stressful environment.

Why did the speaker decide to leave their first job?

The speaker decided to leave their first job because of the tremendous workload and the lack of compensation for overtime, which made them realize they did not want to spend their entire career in such a stressful environment.

What happened to the speaker's colleagues and manager after they left their first job?

Six weeks after the speaker transferred to a new company, all their colleagues and their manager, along with 1300 employees in North America, were laid off unexpectedly.

How does the speaker view the trend of outsourcing jobs to countries with lower labor costs?

The speaker sees outsourcing as a strategy used by mega corporations to reduce costs by moving jobs to countries where workers accept lower wages and fewer benefits.

What is the speaker's perspective on the value of higher education in the current job market?

The speaker believes that higher education has become less valuable due to an overabundance of graduates, leading to a loss of appeal and making it harder for individuals to stand out.

What does the speaker suggest as an alternative to being an employee in a large corporation?

The speaker suggests becoming a small business owner or entrepreneur as a way to gain more freedom, control over one's work, and the potential to be part of the last vestige of the middle class in the west.

How does the speaker feel about the concept of 'hustle culture'?

The speaker is critical of 'hustle culture,' arguing that it promotes an unhealthy work-life balance and an overemphasis on work at the expense of personal well-being.

What does the speaker think about the future of intellectual pursuits in society?

The speaker is concerned that society is transitioning from a knowledge-based economy to an attention-based economy, which may lead to a decline in the value placed on education and intellectual pursuits.

What advice does the speaker give regarding work and personal life?

The speaker advises that one's work ethic should serve their own well-being and that they should not live to work but rather work to live, emphasizing the importance of freedom and personal fulfillment.

Outlines

00:00

🎓 The Shifting Job Market and Its Impact on Higher Education

The speaker reflects on the reality of the job market, which has led to a change in their perspective on life after two years of working as an engineer in the high-tech industry. They discuss the power dynamics against common workers, the pressure of being hired and then overworked, and the eventual threat of being let go. The speaker questions the traditional belief that higher education guarantees financial success and stability, given the current job market trends. They recount their own experience of graduating with a master's degree in electrical computer engineering and the challenges faced in finding a job, including high expectations from hiring managers and the competitive nature of the job market. The speaker also shares their decision to leave a high-stress job for a less demanding one, only to witness mass layoffs at the previous company shortly after their departure. They conclude by discussing the outsourcing of jobs to countries with a cheaper and more compliant workforce, and the fear that even senior engineers live with regarding job security.

05:01

🌏 Global Work Culture and the Decline of Intellectual Pursuits

The speaker delves into the work culture in countries like Korea and Japan, where long hours and a lack of work-life balance are the norm, leading to a decline in personal and social well-being. They argue that hard work and education should be rewarded, but in reality, many workers are barely making ends meet. The speaker also touches on the challenges of forming social circles and starting families under such conditions. They express concern over the rise of an attention-based economy, where social media influencers earn significantly more than highly educated professionals, reflecting a societal shift away from valuing knowledge and intellect. The speaker suggests that this trend may lead to a decline in the pursuit of intellectual excellence, as seen with historical figures like Einstein and Shakespeare. They advocate for a change in mindset, encouraging individuals to take control of their lives, embrace risk, and consider entrepreneurship as a path to freedom and creativity.

10:02

🚀 Embracing Entrepreneurship for Freedom and Creativity

The speaker emphasizes the importance of entrepreneurship and owning a small business as a means to maintain a middle-class lifestyle and personal freedom in the West. They argue that small business owners are less susceptible to the pressures of corporate life, such as layoffs and the need to conform to a company's culture. The speaker believes that being a small business owner allows for creativity, autonomy, and the ability to set one's own pace, which are essential for a fulfilling life. They conclude by stressing that the appeal of entrepreneurship extends beyond financial gain, highlighting the value of freedom and the opportunity to live authentically.

Keywords

💡Hightech industry

The hightech industry refers to the sector of the economy that deals with advanced technology and its applications. In the video, the speaker reflects on their experience working as an engineer within this industry, highlighting the intense competition and demanding work conditions. The term is central to understanding the challenges faced by professionals in a rapidly evolving field.

💡Power dynamics

Power dynamics describe the distribution of power and influence between individuals or groups. The video discusses how these dynamics are heavily skewed against the average worker in the job market, with employers holding significant control over hiring, firing, and working conditions. This concept is crucial for understanding the speaker's critique of the current employment landscape.

💡Financial success and stability

Financial success and stability are terms that denote economic prosperity and a secure financial future. The speaker initially believed that higher education was the key to achieving this, but their experience in the job market led them to question this belief. The video explores the disconnect between educational attainment and financial security.

💡STEM graduates

STEM is an acronym for Science, Technology, Engineering, and Mathematics. The speaker mentions an overabundance of STEM graduates, suggesting a saturation in the job market that diminishes the unique value of such degrees. This term is used to illustrate the competitive nature of the job market and the challenges faced by new graduates.

💡Outsourcing

Outsourcing is the practice of contracting out a company's functions or operations to a third party. In the context of the video, the speaker discusses how companies may outsource jobs to countries with lower labor costs, such as India, to cut expenses. This concept is integral to understanding the global shifts in employment and the impact on local workforces.

💡Hustle culture

Hustle culture refers to the belief that constant hard work and dedication to one's career are the keys to success. The speaker criticizes this culture for promoting excessive work without adequate rewards and for fostering an environment where work takes precedence over other aspects of life. This term is central to the video's argument against the current work ethos.

💡Attention-based economy

An attention-based economy is a concept where value is derived from capturing and maintaining the attention of consumers, often seen in social media and entertainment industries. The speaker contrasts this with a knowledge-based economy, arguing that society currently rewards those who can capture attention rather than those with knowledge and education. This term is used to explain the shift in societal values and its implications for different professions.

💡Work-life balance

Work-life balance refers to the equilibrium between an individual's work and personal life. The video discusses how demanding work cultures can disrupt this balance, leading to stress and a lack of fulfillment outside of work. The speaker uses this term to argue for the importance of a healthy balance and the need for a change in work culture.

💡Entrepreneurial mindset

An entrepreneurial mindset is characterized by innovation, risk-taking, and the pursuit of opportunities. The speaker encourages adopting this mindset, suggesting that owning a business can provide freedom and control over one's work and life. This concept is presented as an alternative to traditional employment and a way to resist the power dynamics of the job market.

💡Middle class

The middle class is a social and economic class that falls between the working class and the upper class. The speaker suggests that small business owners represent the last vestige of the middle class in the West, as they have more control over their work and income compared to those tied to large corporations. This term is used to discuss the economic implications of different work arrangements.

💡Creativity

Creativity is the use of imagination or original ideas to create something. The video emphasizes the importance of creativity for personal fulfillment and happiness, suggesting that traditional work environments often stifle it. The speaker argues for the need to foster creativity, both for individual well-being and as a means to resist the constraints of the current job market.

Highlights

The job market's reality has led to a shift in mindset regarding life after education and work.

The power dynamics in the high-tech industry are heavily against common workers.

The traditional belief in higher education as a path to financial success is being challenged.

The job market's trends show that being hired can lead to being overworked and eventually let go.

The appeal of a university degree is diminishing due to an overabundance of graduates.

The experience of job hunting after a master's degree in electrical computer engineering was difficult.

Hiring managers have inflated expectations due to an influx of applicants.

The workload in the high-tech industry can be overwhelming, leading to burnout.

The fear of being laid off is a constant stressor for employees.

Outsourcing jobs to countries with lower labor costs is becoming more common.

The rise of the Asian economy is leading to increased competition for jobs.

The hustle culture promotes an unhealthy work-life balance.

The transition from a knowledge-based to an attention-based economy is affecting job stability and rewards.

The societal shift towards valuing entertainment over intellect is impacting job markets.

The importance of work ethic in serving oneself and living a balanced life.

The schooling system may not prepare individuals for the realities of the job market.

The potential of small business ownership as a means for financial and personal freedom.

The need for risk-taking and entrepreneurship as a path to success and fulfillment.

The importance of creativity and freedom in achieving a happy and balanced life.

Transcripts

guys the reality of the job market has

made me change my entire mindset towards

life after two years of working as an

engineer in the Hightech industry I

realized that the power dynamics are

heavily laid against the Common working

men and women now I grew up with a

traditional thinking that pursuing

higher education is the best ticket into

financial success and stability yet with

the recent trends that I have been

witnessing so far in the job market made

me realize that all the ideas and

beliefs that I held before are being put

under tremendous challenge first they

hire you and then they burn and turn

they threaten to fire you making you

work evenings and weekends extracting

maximum value milking you for everything

that you've got and then you get fired

one way or another in the end and you

lose the equity that you may have been

building into that company they just say

hey you know what we don't need you

anymore sorry bye bye guys there is

nothing unique nor scarce about going to

University these days plenty of stem

business accounting graduates who are

applying for jobs so when things tend to

be in total abundance they do tend to

lose their appeal fairy dust it doesn't

exist it's never landed it is no matter

it's not on the elemental chart now this

is me recording this two years after I

finished my master's degree in electric

Computer Engineering and all what I'm

about to tell you here is shaped by my

own personal experience and the research

that I have been making for this video I

graduated from Calon University back in

2022 finished up my Master's Degree

start applying for jobs it took me 5

months to land my first job offer but

what I noticed is is that the

expectations of hiring managers is

extremely inflated every job interview

that I had felt like I was in a final

exam and rightfully so for them because

they are being bombarded by hundreds and

hundreds of applicants so they have the

right to P picking for example in an

interview that I had with a satellite

company I was asked to draft a plan a

schematic a total schematic for a

satellite antenna system and after

spending 8 hours grabbing my old antenna

book and making all kinds of elaborate

equations I didn't even get a call back

from them not even getting a rejection

from them guys so you know I felt like I

was competing in an epic Olympic

Marathon by all means you know now I got

my first job five months in at a

California company I had to go there for

the first few months to get some

experience to get some training with

them and by all means I mean I enjoyed

working with my colleagues and my

manager was a nice guy however the

workload was really tremendous I had to

work four to 5 hours overtime and not

getting paid for the overtime that I'm

I'm working at because in North America

as a salaried employee you don't get

paid for to working overtime and you

know I realized that I don't want to

spend my entire career in such a

stressful environment and I decided to

leave the company I got you know I

applied for a job elsewhere lesser pay

but no overtime thankfully and you know

I transferred into that

company but 6 weeks after I transferred

from that company all my colleagues and

my manager in the previous company along

with 1300 employees in North America

were laid off guys they were caught off

guard hard and laid off I had a a

manager who had a morish payment and two

kids in University and he was one of

these late off employees guys thing is

you can never really anticipate when a

company decides to you know trim the

bushes and lay off you know a couple

thousand people all because some

accountants in that company made an

Excel sheet predicting a drop in their

profit in the next quarter or so and

they lay you off guys because here's the

thing you're just a cug in a machine

when you were an employee you are

totally dispensable for them and these

Mega big companies they started

realizing that the North American

Workforce is expensive and demanding

they can Outsource all these jobs into

let's say India where people there will

work for much more and asking for much

less you know guys Asia is rising right

now the economy of India is set to

surpass that of Germany and that of

China is gradually on par with that of

the United States these countries are

graduating hundreds of thousands of

Engineers programmers accountants all

these jobs that are SED for white color

professionals and they are bound to

compete with the workforce of the you

know of the North American region and

Western Europe guys I know some senior

engineers in North America top tiers in

their industry and they confess to me in

you know in person in private that they

keep their resume updated and they keep

their you know skills sharpened because

they are always fearful of getting that

call from Jennifer from HR you know

telling them that they are being

released from their rules imagine that 6

years after you have spent in University

grinding through algebra through

calculus sleepless nights you know

submitting projects assignments and you

know sucking up to

professors and after let's say 5 years

of working experience you are still

afraid from being laid off from having

your entire life flipped upside down

even if you don't get laid off you're

still going to be anxious and mentally

exhausted because you're always you know

on edge of receiving that email or that

call from Jennifer from HR or you're

always walking on EX shells not to upset

the office carons you will find yourself

subconsciously sucking up to your BS

because you know that the power dynamics

is greatly in his or her favor take the

example of Korea and Japan where people

go to school from an early age only to

graduate after studying really hard to

work in a toxic work environment where

people work from 8:00 a.m. to 8:00 p.m.

12 hours a day and yet they're only

getting by if someone deserves to be

rich only by hard work work and

education it should be the engineers

working in Samsung yet it's not the case

I mean people in Korea and Japan are

barely getting barred they're barely

being AF FL they're not better off than

people in the west I'm 50 years old a

typical Japanese office worker I'm

really worried about my future and I

don't know what should I do and the

thing is if you work in all these long

hard tiring hours drained from all your

energy sometimes working on weekends how

can you have the time to make social

circles to make friends for God's sake

how can you have time to talk to girls

when you're all drained after work

actually after spending all these years

in your youth grinding through calculus

books how can you develop the social

skills needed to talk to girls I mean

guys the two things are simply

irreconcilable and let's say you are

able to start a family how can you both

have and raise children when you're both

grinding through a a toxic work culture

from 8:00 a.m. to 8:00 p.m. how could

you have you know the energy to raise

kids after all of this when the two

parents are going to be the brand

winners because these days it's not

enough for a single person to sustain an

entire family in a white collar paycheck

it's just it's not enough so it's not a

shocking thing that's people in Japan

and Korea are lonely depressed and you

know they have a declining fertility

rate I mean my God it's 0.8 in South

Korea right now but actually guys

globalization has it that whatever we

are witnessing in South Korea and Japan

is gradually catching up in the west

where you will be asked to work these

same long hours and in the

weekends add that with hustle culture

and you have this underlining idea that

you have to work 24/7 non-stop you know

you have to take calls midnight whatever

it doesn't matter you have to put the

interest of the company before you at

any time you have to prioritize your

career this is what hustle culture has

promoted recently but not even that guys

put that aside for a second let's let me

tell you that we are transitioning from

a knowledge based economy into an

attention-based economy where social

media influencers who are able to

capture the attention of let's say

hundreds of thousands of people are

being paid at least 10 times what

engineers at high-tech companies are

making and this is only the case because

Society right now does not reward

people's pursuit of knowledge and

intellect it does not reward education

because everybody is educated there is

an overabundance of these people Society

will reward entertainment

I mean attention capturers that's what

Society rewards right now this is why I

bet you in 10 to 20 years from now we

are never going to see the likes of

Einstein's Shakespeare's and dovi

actually if you go outside right now and

ask someone what Doki is 99 99% of the

time you're not going to find an answer

that is correct or right they're going

to think that it's some kind of brand or

it's some kind of I don't know what

whatever so we are witnessing the end of

people's pursuit of intellect but this

is not to say that having an work ethic

is bad for you by all means I mean

listen I work hard for my job but what

I'm saying is that your work ethics are

there to serve you before everything

else you are working to sustain yourself

you are working to live you're not

living to work essentially you are your

own boss on life this is a reality that

has never been given to us I mean we go

to school and unfortunately the

schooling system is you know serves only

to I'm not going to say indoctrinate the

school is essentially for like

beneficial for people but schooling

system I would say brainwashes us into

understanding that the only options that

we have is being employees it's not in

reality you are your own boss in life

you are your own boss you have infinite

amount of options of course every option

carries its own consequence but

schooling system they enforce a

generation of people who are being

spoonfed with to do people who cannot

take responsibility for their action

that's why we want to become employees

because we do not want to handle the

uncertainty in life we not want to be

responsible for our own task we want to

be spoon fit you know tasks by a certain

manager who actually takes all the

responsibility for us but in reality if

you don't take risk in life you're not

going to have any gains I mean we have

to take risk we have to get back into

taking risk in life just like how our

ancestors did you know people throughout

history took risks and by taking risks I

mean you know you should people should

start having the mindset of actually

start owning their own businesses of

actually becoming more entrepreneurial

and I mean I know this word is being

overused these days I'm not referring to

Mark Zuckerberg of course not everybody

can be a Mark Zuckerberg but everybody

can have their own small business and

here's the thing Guys small business

owners are going to be the last vestage

of the middle class in the west they're

going to be the last vestage and by

small business owners I mean listen

restaurant owners Barber Shop owners

photographers videographers all these

people that can contract their label

independent of Mega companies because

once you are tied with a mega

Corporation you don't have leverage

because it's only you against

this I mean giant economic giant so of

course they're going to underpay you for

your labor it's just the case so by

effect small business owners are going

to be the last surviving middle class

because it's hard to you know as a small

business owner you can adjust your price

you can work at your own pace you do not

have the anxiety of being laid off you

do not have to filter out your you know

your your speech because you're afraid

to upset the offer scons you do not have

to act in an ingenuous way in an

unauthentic way you're free to have your

own Creative Touch on life and humans

need to be creative I noticed that I

learned that recently as humans we need

to be creative otherwise we are living

in a mental jail if we're not creative

you know you need to be free both

mentally and physically in order to have

a happy life and here's the thing I'm

not promoting being a small business

owner just for the money guys it's never

only about the money money is important

money is a huge factor in someone's

happiness but money is not the only

thing freedom I mean personally I think

having like being the a small business

owner has the biggest appeal is in

Freedom because you are free you do not

have to be submissive to a higher

authority so this is it guys this is all

what I have I hope you have found

benefit in today's video let me know

what you think and bye-bye take care

guys