The barrier to entry for investment banking is a lot higher than it is for writing web-apps, also that route may be closed to a very large portion of the world (by virtue of location alone).
Building a web app that might be the gateway to your dreams takes nothing but a computer, a working brain and an internet connection. Getting into investment banking has a wholly different set of requirements and so might not be the 'boring yet easy path', it might in fact be much more difficult. Also, investment banking would not support the number of people that are trying their luck in the web-app (or phone app) lottery.
And for plenty of people 'boring' doesn't cut it, no matter what the rewards.
Investment banking only requires you to go to the right schools and to be able to tolerate excruciatingly boring work for 16 hours a day. I know people who amassed a nice loot that way. By contrast, I don't know anyone who amassed the same amount by creating software, although I know a few who tried.
The problem with web-apps is precisely that the barrier of entry is too low. You are competing against the entire world. No special skills are required beyond programming. It does not require credentials. What makes the game easy to play is also what it makes it so hard to win.
> Investment banking only requires you to go to the right schools
That alone is a deal breaker for probably a very large percentage of those that would want to go this route. Also, it requires a plan long in advance. So that 'only' is a bit out of place there I think.
> to be able to tolerate excruciatingly boring work for 16 hours a day.
That's another slight problem. You couldn't pay me enough for a job like that, I'd probably burn out long before reaching my goals, whatever they were.
> I know people who amassed a nice loot that way.
So do I, their personalities and backgrounds are about as far away from the typical web entrepreneur as you could get.
> I don't know anyone who amassed the same amount by creating software, although I know a few who tried.
I know more people that made somewhere in the millions to 10's of millions with a few 'out of the ballpark' hits in software than in any other business outside of regular trade.
I know one investment banker that did well, but then again, most of my contacts are in the software world, not in banking so that will likely skew the picture.
Competing against the entire world is pretty much the norm for every other business except for software. So first mover advantage, execution, customer support and so on are where you make the difference, and that gives people a sense of control over their destiny, which is a powerful motivator by itself.
Building a web app that might be the gateway to your dreams takes nothing but a computer, a working brain and an internet connection. Getting into investment banking has a wholly different set of requirements and so might not be the 'boring yet easy path', it might in fact be much more difficult. Also, investment banking would not support the number of people that are trying their luck in the web-app (or phone app) lottery.
And for plenty of people 'boring' doesn't cut it, no matter what the rewards.