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I went through a similar progression. A couple of observations:

1) Part of what you experience is just gaining wisdom with age. You see how things really work, and you get disillusioned. The thrill of early experiences, does diminish over time. And that's not just software. The thrill of your first bicycle ride, is not reproducible. The sense of freedom you had, after that, riding around unsupervised -- that goes away too, obviously.

2) The word "tech" has changed radically over the years. I joined my first "high tech startup" in 1988. We really were doing technology that was just barely feasible at the time. The entire company was seven people -- founder, biz/ops guy, VP of engineering, four engineers. That was FUN. Figuring out how to solve these problems, seeing the parts come to life, seeing the whole thing come together, seeing it work for users as planned. In an environment like that, you really feel like you are doing something special, that you are lucky to be there, and you just want to spend all of your time on it. The fact that it might actually be worth serious money someday -- even better.

This incredibly exciting sense of being in a tech startup spread. Large companies would entice you by saying, this group is just like a startup within Megacorp. And I never understood how that fooled anyone. In that situation, you aren't scratching your itch, you are scratching Megacorp's itch, and that's a lot less exciting. There aren't seven of you. Outside your group, there are 700 or 7,000 or 70,000. Maybe you get a little bonus, or equity, but you don't own a chunk of the company YOU started.

However, Megacorp and similar companies definitely saw the advantage of getting their employees to commit to their work in the manner of startup employees, and so you get places like Google that gradually switch the incentive. First you want to be there all the time (back when Google was a startup). Then they make it enticing to be there all the time (campus, massages, gourmet dining, on-campus laundry and exercise, etc.). And finally, it's just expected. Being available and productive (or at least seeming to be) 24/7 is just the way things are at Megacorp these days.

And then finally, the last piece of it goes away: the interesting tech. "Tech" companies are no longer solving barely solvable, new problems. They are doing more of the same, implementing dull and possibly harmful goals for the sake of Megacorp. Megacorp is no more a tech company than it is an electricity company. It uses both to meet its goals, and you are merely someone familiar with either bits or electrons, using them in well-worn ways for the sole purpose of enriching Megacorp.

This is both a great pop song, and the lyrics really capture the disillusionment that sets in, although in a very different environment: https://www.youtube.com/watch?v=V1-EPTAFE0o



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