I think an important factor is the salary disparity. Unless you live in the middle of nowhere, academic salaries cannot provide an upper middle-class lifestyle anymore. Academics are only human and it is natural to want the lifestyle all of their peers from grad school, college (or even their recently graduated student who works for FAANG) seem to enjoy. Unless academic salaries in CS increase significantly (and match say, business school salaries), this trend will continue.
I'm guessing salaries may come down somewhat CS industry jobs as supply of people with software development training increases. Salaries are much lower in physical science, engineering and biology even for PhDs compared to software development/CS/"tech". Although in industry salaries are still higher than academic ones, although the difference is not as dramatic.
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I think an important factor is the salary disparity. Unless you live in the middle of nowhere, academic salaries cannot provide an upper middle-class lifestyle anymore. Academics are only human and it is natural to want the lifestyle all of their peers from grad school, college (or even their recently graduated student who works for FAANG) seem to enjoy. Unless academic salaries in CS increase significantly (and match say, business school salaries), this trend will continue.
I'm guessing salaries may come down somewhat CS industry jobs as supply of people with software development training increases. Salaries are much lower in physical science, engineering and biology even for PhDs compared to software development/CS/"tech". Although in industry salaries are still higher than academic ones, although the difference is not as dramatic.