Earlier quoted context omitted.
If anyone is curious where the mistake is in this article's reasoning, it's in the assumption that people are more or less interchangeable, and that all you have to do is train them to be Xes, and you can have as many Xes as you want. What about the assertion that companies are struggling to fill these roles because (a) they demand more from potential candidates while (b) offering no more in wages than what we saw 10…
The finance companies competing for programmers are also American. So even assuming that SV companies could draw star programmers away from Goldman Sachs by paying them more, there would still be exactly the same net shortage of them in the US.
"If you're a high math student in America, from a purely economic point of view, it's crazy to go into STEM." The best of these students flock to Wall Street and corporate law firms and the rest end up employed in non-STEM jobs which often pay less and underutilize their skills.
If SV companies could draw star programmers away from Goldman, we'd then be talking about a finance shortage, no?