>We just witnessed both in less than a couple years.
If by "witnessed both" you mean "the tail end of the first period that had lasted for 3+ decades, and the beginning of the second which, who knows how long it will last", then yes.
But this kind of "both" is hardly reassuring for witnessing another round of good times anytime soon.
Three recessions happened in that three decade period you’re talking about where new economies were born and mass tech layoffs happened. Also nobody can predict the future, but it doesn’t change the point that prosperous periods will return.
"Three recessions happened in that three decade period" three recessions that barely affected coding jobs and coding job demand, so there's that. The impact of layoffs at those cases lasted hardly a year or so. Developers found jobs very soon after the dot-com boom or 2008 just fine.
Because I see a bigger recession as the world changes and the US doesn't have as much a hold on the top spot, plus there's AI that will impact a lot of tech jobs, and basically the most numerous ones (which are not FAANG or star developers, but corporate coding drones that could be changed to 1/5th the manpower + AI in a 5-10 years).
If by "witnessed both" you mean "the tail end of the first period that had lasted for 3+ decades, and the beginning of the second which, who knows how long it will last", then yes.
But this kind of "both" is hardly reassuring for witnessing another round of good times anytime soon.