More than half of Silicon Valley employees left after the 2000 dotcom bust
More than half of the people working at technology companies in California in early 2000 had left the technology field or the state by the end of 2003, and more than 40% experienced declining incomes over that period, according to a study by the Sphere Institute. Those who stayed enjoyed rising incomes – up 11% after accounting for inflation. But workers who left tech for other industries saw their wages stagnate or decline. Those who shifted from semiconductor makers to health care, for example, made 31% less in Q4 2003, compared with Q1 2000, after accounting for inflation.