Any article that uses the terms "coders" and "IT" is a red flag to me. I've never seen that terminology inside organizations that are actually capable of shipping software.

> Then of course there are the stories of small engineering teams with Unicorn exits, e.g. Instagram, WhatsApp, etc.

I'm surprised the author didn't consider these as well. Some of these stories are almost a decade old at this point, they should be well known by now.