It is painful.
I feel for all of those people who got laid off, particularly because it's relatively easy to believe that if you work in a "sexy" industry like high-tech, you are safer than, say, a manufacturing job.
But the disruption that technology is bringing to the economy is most decidedly moving up the socio-economic ladder. (It's moving down and sideways as well as Uber tests self-driving cars and self-driving big rigs--think about that).
What's potentially troublesome is that just as these companies (and more importantly the people who work at them, want to work at them, and were laid off by them) are getting used to this new era of Digital Transformation/Disruption, the next wave of Disruption is looming behind them.
I've used the term "Blockchain" too broadly, to be sure. It's more than that. It's decentralization, it's a new type of protocols that invert the way software companies are conceived, built, and make money.
Two really solid articles come from the guys at USV and are worth the read.
Joel does a first rate job of showing how this upcoming era flips software on its head in the age of "Fat Protocols."
And Albert expounds on crypto-tokens and protocol innovation.
It's stand on your head type stuff because it's going to force all of us to entirely re-think how businesses operate.
The big tech companies may, in some way, be the last place to feel the pain of digital disruption because, for so long, they were selling it to others.
Round 1 will have to finish. It's just that Round 2 is coming.