That's a good point. The question is, is the return from training up someone worth it? Do they spend more time at the company than someone hired in with more experience? Do they get the company more in income than they cost in training?

The cost is in the near future and fixed, whereas the benefit is in the future. Which is why a company can't answer those questions, and often goes with the safe route and tries to poach or hire a senior person (which, honestly, is just a junior person who has made mistakes and learned on someone else's dime).

However that has its own risks because it's not like interviews are cost free.

I just think there's a tremendous market flaw that someone is going to take advantage of by finding talented entry level folks and hiring them for less and then making money somehow. That or eventually entry level folks will leave the profession of software development.