[tnecniv]

>> Some people never do research again after completing a Ph.D. For such people, the Ph.D. was largely a waste of time.

> Is it? Some of my friends went on to start successful companies after getting their PhDs. I'm a bit envious of them actually, I didn't have that option as my research was on an obscure topic with zero commercial potential.

There's also plenty of industry positions that benefit from you having a PhD. Certain fields can basically require them, like Chemistry. In CS, you might be able to get a lot of them without one, but the PhD lets you get paid to develop your skill set in niche areas.