Today he Skyped me, panicked. His PI's funding fell through and the post-docs will be the first to go. Now he's in a rush to find a position. And hiring in a rush is not exactly something academia is known for. So now he'll have to either find an academic post soon or be stuck in another 2 year project as a post-doc....or go industry. On top of this, as a post-doc he doesn't make enough to have put aside enough money to save for a long job-drought during an academic search.
I've enjoyed my time in industry for the most part and being able to be comfortable in my position not dependent on whether some guy/girl in the office upstairs can write a successful grant is pretty nice. My job is at the mercy of the competition and the board, but I know my products are superior and the free market has seemed to agree so I'm not worried. But more importantly, if I get laid off there's a very nice severance package (8 weeks of salary) and I've saved up a bunch because I'm overpaid. So I can deal with a break in employment. Plus, if I had gone year-after-year looking for a faculty job, I would be confident knowing that if I didn't find it I'd still have my job to fall back on. A post-doc isn't a really great fallback plan.
Thinking of my friend's situation reminds me of how lucky I am. When I was job hunting I constantly thought about how much different my hunt would be if I had a heavy hitting school on my CV for a post-doc. In hindsight I don't think it mattered much, but the stress was there before. Though the stress of worrying about pulling in a paycheck would be more than I could handle. I'd imagine his position could be in the minority, but I have no clue, and I don't wish that on anyone. I feel like Keanu in dodging that bullet.