This is an interesting take. I wonder how much the last 20 years of relatively cheap capital contributed to this. A lot of VC money seems to already have dried up as interest rates start to rise.
If you look at the explosion in salaries it's mostly been the last decade, which is coincidentally the decade of near 0 interest rates and capital chasing even more tenuous returns (ie the influx of money into VC funds which went into startups)
