Skip to main content

IT PINOY's in the current financial crisis

the world 2008 - was rocked by the grave news of lehman bro's filling for bankruptcy and there have been many speculations that this could lead to the next u.s. great depression and how much would the ripple effect be to the rest of the world, especially the Philippines. (know more about the 2008 economic crisis here)

to the rest of us IT PINOY's, should we concern ourselves with all of these? how much would the economic meltdown effect be in our field? should we even be worried?

there were discussions that the outsourcing would be stronger than ever (kasi nga we give cheap labor)

the last i.t. recession (as i called it) i remember was in 2000, where i myself was also a victim of the dot-com bubble. right after the millenium bug, many IT PINOY's were sent home (from the usa) because just as big was .com's popularity back then, ganun din kabilis ang pagbagsak nito. the main reason was the accumulative bad investments made! dahil sa biglang nagboom ang internet, many jumped into it at maraming impulsive investments ang nangyari to .com companies.

well i dont know about this year's woes, read more from fredrick simon's writeup and the socialistworker.org for details of the events.

personally, i'm an optimistic guy, and like any IT PINOY if we just spend/invest wisely, i know we all can weather this.. tayo pa eh sanay naman tayo sa hirap!

(photo courtesy of socialistworker.org)

Comments

  1. I wouldn't be too worried, as good developers (and managers) are always in demand no matter what the climate is. Though the economy and investments may be down, computer and software use is always going up, as we become more and more dependent on computers everyday.

    The potential side effect of the US/Global economic downturn is that companies look for more affordable and efficient labor forces, which can only benefit us here in the Philippines.

    ReplyDelete

Post a Comment

Popular posts from this blog

the facebook breakup letter

dear facebook,

today marks our 10th year together, i must say it has been a sweet journey. unfortunately, time has come for me to walk away.

i had high hopes for us when we started, especially at the time when my heart still beat for… what was her name again? ahh friendster (may she rest in peace). but you were all smile and poised, a neatly uniformed college girl full of hopes and overflowing with excitement. you had me at one poke!

through you i bravely opened up my thoughts to the world. i was able to connect with old and new friends. you bridged time, the longitudes and the latitudes. i got found and new relatives were discovered. once a year you even make me famous sending out birthday reminders. with you, i was a kid in a playground, swiping up or down till the wee hours, unconditionally tagging anyone and gleefully enjoying your games.

know that i am glad to have witnessed you grow - your fun emojis, crazy virals, and live videos i will sorely miss. oh i always thought it’s cool…

Facebook's Mark Zuckerberg Faces Congress

Facebook CEO, Mark Zuckerberg faced the senate judiciary and commerce committees today, in light of the recent data breach impacting over 87 million of its users.  
on march-21 addressing the cambridge analytica situation, "We have a responsibility to protect your data, and if we can't then we don't deserve to serve you. I've been working to understand exactly what happened and how to make sure this doesn't happen again. The good news is that the most important actions to prevent this from happening again today we have already taken years ago. But we also made mistakes, there's more to do, and we need to step up and do it," mark posted. 

here's a background of events;

as early as 2007 facebook envisioned that apps should be "social" enabling people to log into apps and share who their friends were and some of their information (birthdays, where they live, photos).  in 2013, a cambridge university researcher named aleksandr kogan created a perso…

PINOY OFWs Beware of New E-Mail Scam

an email scam has been recently reported targeting the PINOY Overseas Contract Workers (OFWs). 

the Philippine Overseas Employment Administration (POEA) advised everyone to ignore emails telling them they have qualified and may apply as a nurse or caregiver at the Canadian Virtual Hospice in Winnipeg, Canada.  

the said email further added that applying for the job does not have hidden charges and that the employer will shoulder the airfare, work permit fee, and working visa (sounds interesting huh?). now the catch... the candidate is told to pay at a designated Western Union and/or LBC account, for the coaching and medical exam fees and to reserve a slot at the embassy for the coaching seminar. 

its unnerving how some take advantage of people who are just trying to earn a better and honest living.  please share this, be aware.  

read more [inquirer.net].