I'm certainly not claiming that the future will necessarily resemble the past. But GP was making an argument from the past, so in that context we should certainly at least try to get the past right as much as possible. (And there was (I am told http://philip.greenspun.com/research/tr1408/lessons-learned.... ) the '80s, where the salary slump was driven by increased supply rather than a collapse in demand.)

If the current tech bubble bursts, it’s going to absolutely wreck amazon, fb and google—the three companies that actually gain most of the benefit from all these tech companies blowing their funding on ads and AWS spend.

Those are the companies driving up salaries — once that rollercoast ride stops I imagine that there are going to be mass layoffs and salary readjustments for years afterwards.