I do think there is a talent shortage, but I also think tech companies could learn a few things from other industries that have figured out how to recruit at scale. E.g. at my company hiring is not done by HR. A recruiting department handles the planning and logistics, but evaluations are done by lawyers. A potential recruit will be evaluated by associates at say a cocktail reception, interviewed by an associate or sometimes a partner in a screening interview, interviewed by several associates and partners at a callback, and will be hired or not based on the judgment of a hiring committee of partners. At no point does a candidate answer to someone who hasn't been in exactly that same seat before (even the recruiting people are often lawyers who left active practice). As I understand it, finance, consulting, and accounting work the same way, even in huge organizations.

The downside of this is that it's very time-consuming, and very expensive. But you get what you pay for.