Eroding entry grade jobs will erode future value. If people don't understand the value of future human capital, they don't understand the economy.

If kids today can't get jobs which in future pay well, who is going to both buy things and pay the taxes for my pension?

This is a bad move. I encourage fund managers who invest on public and private assets to tell their boards: hire people.

HN automatically elides numbers from article titles. It's up to OP to edit the title so it makes sense again. There's usually a ~1 hour window for this.

Yes, that puzzled me!