I think this overlooks the difference between qualified and credentialed.
In the valley, there are plenty of experienced and uncredentialed people working great jobs. There are relatively few unqualified people doing the same, except when hiring squeezes exceedingly tight.
Outside the valley, defending the decision to hire someone without credentials is virtually impossible. There may be plenty of interest, but someone along the way will chicken out rather than risk the backlash if someone without a degree turns out to be incompetent.
The fact that 'marginally-qualified' people get hired is orthogonal (or maybe even antithetical) to whether 'marginally-credentialed' people do. If a company can't judge competence, they just look for degrees and get shitty employees. That's what's happening outside the valley, and it hurts companies and skilled, degree-less employees alike.
I'm not sure if I could agree with the "Outside the valley" comment. I live nowhere near the Valley, and myself and plenty of my co-workers are not credentialed. As a matter of fact, my current workplace is pretty much in a rural area. My last 3 jobs have had a pretty equal number of credentialed and uncredentialed employees. These companies all pay very well, and are well-known.
The generalization between valley vs. not valley here seems a bit too strict. I'm in the Boston community and there is not an irrational focus on credentials here. My good friend just completed a code bootcamp and got hired in Chicago. I think at least any sizable tech city will behave like this in the present climate.
In the valley, there are plenty of experienced and uncredentialed people working great jobs. There are relatively few unqualified people doing the same, except when hiring squeezes exceedingly tight.
Outside the valley, defending the decision to hire someone without credentials is virtually impossible. There may be plenty of interest, but someone along the way will chicken out rather than risk the backlash if someone without a degree turns out to be incompetent.
The fact that 'marginally-qualified' people get hired is orthogonal (or maybe even antithetical) to whether 'marginally-credentialed' people do. If a company can't judge competence, they just look for degrees and get shitty employees. That's what's happening outside the valley, and it hurts companies and skilled, degree-less employees alike.