Really? What statistics? And where do these statistics show the developers going? People don't just dry up and blow away at 40. They move to managerial positions. They start their own companies. They stay in jobs longer, so while you might see fewer of them being hired, that doesn't mean they're not still working in the field.
And there are simply not many older developers to begin with. How much of this effect is the fact that there are simply many more qualified developers under 35 than there are over 40, as the field wasn't as big and not as many people were getting training 20 years ago?
This article is high on anecdotal doom and gloom and low on actual evidence. "Statistics show" is not a very convincing argument.