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Tuesday, October 27, 2026

Technical Debt WILL Wreck The Foolish - Denninger

 Virtually all technology-related firms have, for more than two decades, fired or laid off their best and most-competent people.  Most of them here in America were Americans.  They replaced said people with H-1bs, OPTs, CPTs and similar, most from India but not all, with many who do not even actually have the skills claimed and none of them have the experience which is why they're cheaper.  Doing this also instantly destroys the pipeline of new people in America coming into the field and the transference of said knowledge to the next generation as these foreigners are not citizens and never will be; they at best want green cards and send huge amounts of their earnings home where they intend to return after basically "mining" America for a wage that is several times what they can earn at home which permanently takes their acquired knowledge with them.

The latter problem does not show up for years or even decades but when it does the outcome is ruinous and impossible to rapidly correct as the knowledge is quite-literally lost.  The people who had it are either out of the workforce and will not return due to being previously screwed or are dead and went to their grave without passing on what they knew to the next generation.

Leaving aside outright fraud, kickbacks, race-based hiring and similar all of which is illegal between that importation and the export of the jobs themselves by moving entire departments out of the United States because its cheaper to not have to comply with US labor standards and taxes you are inevitably firing those who know the most simply because they've been there the longest and destroying the pipeline that transfers knowledge from those with gray hair like myself to the younger generation that ought to ultimately take our place and further advance the state of the art.


https://market-ticker.org/akcs-www?post=256134