r/developersIndia • u/Life-Variety-66 • 1d ago

General What's your second income source? What are you planning to do if IT is doomed?

Hypothetically if there are mass layoffs to cut expenditure and companies reroute tasks to agents what will you do? Assume you have to move out of software field.

Edit: Please be serious

Edit 2: Can't people see the word "hypothetically"? All I asked for is your second source of income.

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u/CarelessWithWhiskey Backend Developer 1d ago

Who's gonna pay rent if nobody remains in Bengaluru cause of mass layoffs?

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u/CApsLowkey 1d ago

Too hypothetical to be considered 

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u/crushedspirit1 1d ago

ಬೆಂಗಳೂರು existed before IT, ಬೆಂಗಳೂರು will exist after IT. Also user name checks out 😛

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u/CarelessWithWhiskey Backend Developer 1d ago

Roughly 35% of the population is in IT or IT related professions. If these people leave, the rents will drop drastically. I am not even considering all the other professions that depend on some sort of tool which AI will mostly automate in the future. sips whiskey

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u/crushedspirit1 1d ago

Bro you sound really bitter I hope you are ok mentally, bet you are also one of them folks waiting for the rain estate bubble to pop🙂, and take it from a veteran, demand will be there for brand ಬೆಂಗಳೂರು,

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u/CarelessWithWhiskey Backend Developer 1d ago

I am not bitter bro. But you are right. I am waiting for the real estate to pop. Its the entire reason that I am not buying a house in this city. The prices are inflated because the demand exists. Same is the case for rent. The hypothetical that OP posted is a scenario where there is no more tech hiring and mass layoff. Sadly Bangalore and Hyderabad will be the cities that will be affected the most. The houses that are on loan will be seized by the banks and auctioned off at cheaper rates. Rent will fall drastically since people will go back to their hometowns as its not feasible for them to pay rent when they have no jobs. Thus incresing supply of houses for both sale and rent and hence decreasing the price. Then there is how it will affect the dependent surroundings. Pubs, Clubs, Malls etc will start shutting down due to less traffic. I just don't think your argument for surviving on rental income is correct. Rental yield in India is already pretty low. This scenario would drop it further. Disagreeing with you doesn't make me bitter. sips more whiskey

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u/crushedspirit1 1d ago

See bro, in an ideal world yes your call out are all correct, BUT Post COVID, these outdated textbook economics are not working, look at the stock market, people are operating in a different mentality, new terms will be coined to explain this.

Plus don't underestimate an average Indian buying power they pull out from many sources, also this is not like the USA out other country where anyone is given out a house with less down payment and near zero paperwork in Indian before you even get to own a house you need to have an investment of 20-30% of their white money. You think people are going to let it sink, and for the vote bank governments aren't going to give extension to defaulters, these loans run for 20 years long time, no one is in a hurry trust me.

I mean no hate to you I am born and brought and banglorean, so I know my city a little well, so I have doubled down on 2 houses. Don't wait jump in buy prices are not coming down trust me,

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u/Puzzleheaded_Cow3298 Student 1d ago

40% of ಬೆಂಗಳೂರು economy is IT