The capital's endeavor is to identify relevant ideas, opportunities, phenomenons, and back them proportionally to their potential.
The grassroot movement would have been 1% of what it has become in size, yet would have achieved far better results in pumping out great enginners.
What have we seen instead? a massive injection of enginners, most of them not belonging to the tech industry altogether. Fooled into it for the compensation bait or to escape a field they probably loved that dried out in demand for labour.
For the most part. At least for a significant part. For sure with a very impactful effect.
A sad diagnosis we can make is, on one side a large number of poorly and insufficiently trained enginneers with hardly any chance to build the necessary foundations to grow, on another side a shrinking ratio of great enginners who are seriously starting to struggle carrying heavier weights, and on the opposite side high up management not even sure to notice spending marginally fewer dollar per head count but significantly more dollar for subpar outcomes.
On a more people wellbeing note, of the many fooled into becoming a fullstack enginner in 12 weeks, not only did they believe it since many indeed got the job, they also got fooled into believing they actually liked that job.
High comp doesn't turn people from zero to hero. Only love or at least genuine interest does.