It was the first boom-and-bust experience for me. I got laid off from a startup that folded after the bust. That made me risk-averse and a skeptic. The housing bust of 2008 had a completely different flavor and character unlike dot-com. And, a startup I worked at folded in 2009 as well.

Since then, we have not seen a tech related recession - although, there have been ups and downs. As a result the current crop of engineers dont have a visceral experience of what happens in a tech related recession.