So much for the shortage of qualified STEM people, huh, (at least if "STEM" includes electrical engineers).
I love writing software but some days I hate my profession. I'm seriously considering getting into a different career (where knowledge capital doesn't degrade as fast) and code for fun (as a hobby). The problem is I'm in my mid-30s. Starting over has a very high opportunity cost.
What kind of super-humans are they looking for?
These companies are looking for what you may consider a needle in the haystack; someone with an extremely narrow tech focus. You may think that this person doesn't exist and the company is crazy, but they actually aren't. They will eventually find someone who matches the job description to a T, even if they have to pay for that individual's relocation.
Bay Area companies also do not generally value engineers with business skills, communication, or even social skills. I used to think code monkey was just a fun description of an engineer. But, I've found in the Bay Area, companies really want what I would consider to be a very 1-dimensional employee.
In my college years I was told by a CS professor that if I didn't have experience with many programming languages and operating systems, then I had no business calling myself a computer scientist. Yet, at a recent meetup in SF for a specific programming language, the speaker asked for a show of hands for those individuals with experience in another, relatively popular language. Only about 1% of the room raised their hands. I was pretty shocked and wondered where those people would be, career-wise, in a few years.
You could say it, but I wouldn't believe it...
Basically, he'll get laid off in the next 2-3 years, and he'll need to start at a lower scale and work his way up again with another semiconductor company, or do something else.
This is an issue in many technical fields, software too. An old friend's dad did his Phd thesis in vacuum tubes. If you can't stay current in your current job, you have to find a way on the side. Or do something else. But EEs are in MUCH better shape than liberal arts majors. Their major at least signals that they're smart, good at math, and can work hard.