What happened to software engineering? Job openings for software engineers have dropped by roughly 25%, and many developers are wondering where they fit. In this session, we examine the forces behind the decline, from AI-assisted development to shifting hiring economics, and separate the real threats from the hype. Then we turn to what you can do about it: where to focus your learning, which skills are gaining value, and where new opportunities are emerging. Whether you want to strengthen your position or you're looking for your next role, you'll leave with a practical plan for building career resilience and standing out to employers.