His arguments seem a big reach, though. Lots of investment means opportunity recognition, and there are a finite number of engineers, so supply/demand takes it course.
He's arguing against capitalism, and not making a very good one at that. While trying to sell this as an industry-wide issue, I suspect his real concerns are more immediate -- for his own ventures.
He's not arguing against capitalism. He's saying that the market is currently overvaluing certain kinds of businesses, causing resources to be misallocated. That's it.
You may be right that he is either wrong or making his argument for self-serving reasons. Or he might be right.
He's arguing against capitalism, and not making a very good one at that. While trying to sell this as an industry-wide issue, I suspect his real concerns are more immediate -- for his own ventures.