Great analysis and arguably much too conservative. But the assumption is that positions in industry are equally stable. In the world of startups not so much. And Google and Facebook making even FAANG look volatile.
That academia job is less stable. Bring in grants or go home. Compete with others to climb a pyramid that gets more and more narrow at the top.
Even if you are laid off at Google or Facebook, with those on your resume, anybody will take you, unless you are some weird incompetent fluke. If you didn't get a new grant, you'll have a hard time in academia. Good luck switching institutions once you are unsuccessful in the grant game.
Even if you are laid off at Google or Facebook, with those on your resume, anybody will take you, unless you are some weird incompetent fluke. If you didn't get a new grant, you'll have a hard time in academia. Good luck switching institutions once you are unsuccessful in the grant game.