It was indeed very true then, and it is even worse today.
In 1999, there were around 400,000 STEM PhDs in the US, but only 70,000 STEM academic faculty positions available. Today, there are over 800,000 STEM PhDs, but only around 100,000 STEM faculty positions [2].
And the gap will get even worse: in 2013, over 35,000 new STEM PhDs were awarded, but only about 3,000 new STEM faculty positions were open [ibid]. It's just unsustainable.
So, anecdotes aside, this is a very real and very serious structural problem. No matter how 'passionate' or how resourceful they are, with current trends, at least 9 out of 10 current first-year PhD students will invariably not get an academic faculty position when they enter the market. The longer this elephant in the room is ignored, the worse it will be [3].
It was indeed very true then, and it is even worse today.
In 1999, there were around 400,000 STEM PhDs in the US, but only 70,000 STEM academic faculty positions available. Today, there are over 800,000 STEM PhDs, but only around 100,000 STEM faculty positions [2].
And the gap will get even worse: in 2013, over 35,000 new STEM PhDs were awarded, but only about 3,000 new STEM faculty positions were open [ibid]. It's just unsustainable.
So, anecdotes aside, this is a very real and very serious structural problem. No matter how 'passionate' or how resourceful they are, with current trends, at least 9 out of 10 current first-year PhD students will invariably not get an academic faculty position when they enter the market. The longer this elephant in the room is ignored, the worse it will be [3].
[1] https://news.ycombinator.com/item?id=7763857
[2] http://www.nature.com/nbt/journal/v31/n10/fig_tab/nbt.2706_F...
[3] See also related discussion at https://news.ycombinator.com/item?id=7764289 (where I initially saw the chart from).