Talented people are scared that all but elite firms will fuck up their careers and therefore are only interested in a few companies at any given time. (Interesting enough, those companies are often places like Google that, except for the validation that getting hired by one indicates, aren't great for career progress.)
Firms end up having to buy talent at a panic price (acq-hiring, which usually involves purchase of mediocre talent) because they've lost faith in their own people or, at least, the middle-management filter that has occluded any visibility for talent at the bottom.
There is no shortage of talent or capital. Both are abundant in comparison to the actual limiting factor, which is trust.
Talented people are scared that all but elite firms will fuck up their careers and therefore are only interested in a few companies at any given time. (Interesting enough, those companies are often places like Google that, except for the validation that getting hired by one indicates, aren't great for career progress.)
Firms end up having to buy talent at a panic price (acq-hiring, which usually involves purchase of mediocre talent) because they've lost faith in their own people or, at least, the middle-management filter that has occluded any visibility for talent at the bottom.
There is no shortage of talent or capital. Both are abundant in comparison to the actual limiting factor, which is trust.