Tech certainly does have a diversity problem, by which I mean lack of diversity actually works to the detriment of tech companies. Yes, from the POV of companies who are hiring, this is largely a pipeline problem. No, tech companies aren't going to solve this problem directly themselves. But, what tech companies can do is change their candidate sourcing practices. I'm in favor of some version of the Rooney Rule [0] i…
You don't lower the bar but you do put a locking mechanism on your recruiting pipeline that reduces your hiring throughout in an already supply constrained environment and you impose greater hiring costs to make sure you always have a candidate.
Now that may still be a profitable thing to do, but you can pretend there are no costs and downsides. What you need to do it look at all the pros and cons and balance those considerations to find out what is most profitable. Anything that isn't profit maximizing over the time scale we are optimizing for is also to the detriment of the company.