Earlier quoted context omitted.
I would argue based on their contribution to the bottom line, all tech workers, regardless of age, are significantly underpaid.
I would argue that cannot be true. If it were true, new companies would emerge that paid good employees more -- closer to their fair value. (Also, most companies pay employees more than fair value, to discourage them from shirking.)
These companies are emerging, though, right? 37Signals? I'm sure there are other small well-paid companies, if only from the evidence of a job ad I once saw. Now, "Compensation: Competitive" and "Compensation: Market" have been batted around for years, even around here, but this ad was for a programmer at a financial technology company and in the space for "Compensation" they put "Extremely high." Then again, those places are probably actually using the Big-O concepts they ask about in interviews.
You never see anything like that in Internet companies.