America is screwed by the hardware/software pay gap
Hardware is one of the easiest fields to switch to software because of the skill set overlap. There is mass exodus of young people from hardware companies to software, me included. Literally no one is interested in hardware courses in school. I went to a top engineering school and CS majors outnumbered EE majors 10-to-1, while most those few EE majors were taking CS courses while only meeting the minimum requirements for EE.
The TC gap is so discouraging. My friend, who is probably smarter than me, studied EE and went to a top chip design company. 3 years down the road, his TC is only 135k while mine is 320.
The funny thing is, software/Internet is a service, not a concrete product. They can be easily reproduced as long as you have enough smart people. Hardware, however, is hard to replicate as they need a supply chain as well as manufacturing. That’s what used to give America an edge over China, and now it’s fading alway. In China, software is also getting paid higher than hardware, but only moderately. With the number of university grads in China, there is enough talent to design new hardware products, unlike America, where the talent is all in FAANG.