For the past several years, I’ve been warning that the tech startup boom (and the surge of interest in “coding”) is actually a dangerous bubble that is driven by the U.S. Federal Reserve’s ultra-loose monetary policies since the Great Recession. A recent New York Times piece called “The Hard Part of Computer Science? Getting Into Class” describes how young people are clamoring to study computer science:
Lured by the prospect of high-salary, high-status jobs, college students are rushing in record numbers to study computer science.
Now, if only they could get a seat in class.
On campuses across the country, from major state universities to small private colleges, the surge in student demand for computer science courses is far outstripping the supply of professors, as the tech industry snaps up talent. At some schools, the shortage is creating an undergraduate divide of computing haves and have-nots — potentially narrowing a path for some minority and female students to an industry that has struggled with diversity.
The number of undergraduates majoring in the subject more than doubled from 2013 to 2017, to over 106,000, while tenure-track faculty ranks rose about 17 percent, according to the Computing Research Association, a nonprofit that gathers data from about 200 universities.
Economics and the promise of upward mobility are driving the student stampede. While previous generations of entrepreneurial undergraduates might have aspired to become lawyers or doctors, many students now are leery of investing the time, and incurring six-figure debts, to join those professions.
The tech frenzy can be seen in the chart of the monthly count of global VC deals that raised $100 million or more since 2007. According to this chart, a new “unicorn” startup was born every four days in 2018.
To read the complete article, continue on to Forbes.