You also seemed to be focused on only web development. I would argue that "IT people" are not limited to web development -- and that you're overlooking the entire maker movement (including Raspberry Pi's and Arduinos), the breathtaking development going on with self-driving cars, and the development still taking place with AI.
But as always -- follow the money. Old school engineering shops got their money from the military (the internet is thanks to DARPA, after all). Web 1.0 got it's money from selling physical goods. Web 2.0 got it's money from venture capital and digital goods. What are we selling now?
You also seemed to be focused on only web development. I would argue that "IT people" are not limited to web development -- and that you're overlooking the entire maker movement (including Raspberry Pi's and Arduinos), the breathtaking development going on with self-driving cars, and the development still taking place with AI.
But as always -- follow the money. Old school engineering shops got their money from the military (the internet is thanks to DARPA, after all). Web 1.0 got it's money from selling physical goods. Web 2.0 got it's money from venture capital and digital goods. What are we selling now?