What happened to nerds?

100%. What matters most is always the intention of why a person does something. If it is based on external factors like money or power, and not intrinsic motivation like being fascinated or interested in new technology, this will happen.

I think the issue boils down to money, lots of it.

When I worked in the Bay Area, I noticed the nerd-culture was still more or less predominant in South Bay. The arrogant, shallow types were always there (as witnessed by their fancy cars--"should we take the Jag or the Merc today?"), but I could still tolerate it. San Francisco was a different story. I started a new job at a startup once and remember thinking "I'm surrounded by Ivy Leaguers who look like models--this place is not for me". I think the crazy amounts of money just brought in everyone looking to make a buck, and the nerds no longer were the majority.

But then you have the company missions. It seems like most of the companies in the Bay Area are all about advertising or compiling info on individuals and selling it. It's mostly B2B and not so much "cool products".

We're on the downside of the tech bubble, and maybe that's a good thing.

Nerds became an industry field - that's what it happened. Back in the 90'ies we were doing IT things because it geniunely interested us, not that it would "net us high salaries". I'd do this even if you didn't pay a single centa because it triggered my dopamine receptors.

Then the world digitalized, and people who do not have any interest in computing and computers in general became "experts". That's when the ball begin to roll. This created people who can't give a french fry about the work they are doing? Quality? Efficiency? What do they matter, it was a job you did for 9-5 and you got your salary. If money was in say, haystacking, they'd be doing haystacking.

Now whenever someone utters "crypto" I do a doubleback and realize they mean cryptocurrencies, not cryptography. I do not expect any of my new hires to know the word "grok" (other than the AI of course), enjoy science fiction or any nerdy things we did. IT was a community where like minded people were working, now it is not.

Nerds were bought out and turned into money and thus wife having chads. Now, the basement dwellers of today are actually tech illiterate and skillless with no charming qualities at all. Blame capitalism.

What does any of that have to do with "nerds"? You are complaining about business and management people in tech. None of them is a "nerd" and never was. Or otherwise said, what does the "nerd" even means to you? I thought that nerd means a person who is a person with lower social skills, obsessed over technical details so much they are unable to discuss anything else.

People whose whole career always was to manipulate and impress people, to talk well, to convince investors to give them money, to lead companies just are not nerds. Regardless of whether they are narcistic assholes or not.