> For example there are plenty of people qualified to do engineering work who aren't working in that field right now for whatever reason, but could be enticed to take an engineering job for enough money.

Like whom? How can you be qualified to do software engineering if a) you've invested so much in a different career that you already make more than SV salaries and b) you presumably haven't done software engineering in years?

As for past investments in different careers, those are sunk costs and irrelevant to decisions made now.

The population of people who consider $150k a year not to be sufficient incentive to get a job is vanishingly small.

> As for past investments in different careers, those are sunk costs and irrelevant to decisions made now.

It's not irrelevant if they did those things instead of learning/doing software engineering. You can't study medicine or law or banking for 8 years and just become an engineer at Google overnight because the Google starting salary had (hypothetically) risen to $300k and it's now a better deal.