alt Hacker NewsIn the 80s, after you graduated from college and got a white-collar job, you probably didn't have much in student loans, and if you did, you could be assured you'd pay them off in a couple of years. Then you'd have money saved up to put down on a house. If you wanted you could get married and have kids. Take two weeks vacation every summer to the shore or the mountains. You expected to be able to afford to put your kids through college, and after 35 years or so of service, you could retire with a pension and a gold Rolex as thanks for your service.
Where there ever pensions in the tech business? Maybe ibm in the 50’s or 60’s…. Did DEC have pensions? Large, old employers like governments or pharma or union-supporting companies had pensions, but the rest had “defined contribution” retirement instead.
Computers blew away the pink-collar job fields which took away much of the non-tech employment. Hard to assemble a 2 tech family with children due to the lack of remote work and the lack of affordable housing where the job-islands are. And a house then was way, way smaller and less featureful than what people want today an and toys were also way cheaper and simpler.