[epistasis]

Software. Talk to anybody in the hardware space, and compare their experience to software.

Hell, the only two people I see in this thread that claim hardware experience are saying that it's a better career move to switch to software.

Software is easier, pays better, and has far better employers. Until hardware companies realize the situation they've created, they will lose their workforce to greener pastures.

[nickff]

Software has also benefitted from a massive tax subsidy relative to hardware, as the latter requires a massive capital investment. Hardware requires expensive real estate, and benefits from saving the spending, whereas software can exist on debt and small footprints.

[__MatrixMan__]

That may have been the case prior to section 174, when you could invest massively in something, write it off as a loss, and then pivot to reusing it profitably, but now I think that all R&D efforts are equally discouraged.

[nickff]

You're right that the delta has been reduced, but producing physical goods still requires much more capital outlay (which is still disadvantaged).