[jvanderbot]

This is of course true in general. But the question is not "how with this evolve" but how will we deal with the rapid changes in the industry? I suspect a long term k-shape salary curve, even worse than today, with the lower 80-90pctile salaries bottoming out such that many have to exit the industry to make ends meet. You can laugh and blame them for not saving as much as they should, but that's still a fairly horrifying prospect for most of us.

I think a _lot_ about stock trading a profession vs algorithmic trading. It was brutal - suicides, many pivoting out to doing car dealership-style work. Probably a 1/10 or 1/20 survivor rate every couple years, with almost all of it a very painful five year period.

[RSHEPP]

I would ask for references for the suicide claims, so others can assess the impact themselves. That's a very serious claim to provide without any proof, especially to a group of people who very well be going through the same thing. I am not saying it did not happen, only it's the right thing to do.

[darkerside]

And it was the dumbest and least valuable stock traders that exited the industry. The industry is alive and well today.

[willempienaar]

Phew, for a second there I felt bad for them!

[_heimdall]

That really depends on how you define alive and well. There are still stocks and there are still traders, but the market valuations are obscene and it sure appears that there must be collusion or corruption driving the industry to jam massive IPOs into every index and 401k they can find as fast as possible to fasciliste and exit.