> It’s why you see a lot of COOs and CEOs with some legal background or at least familiarity.
An alternative hypothesis based on people I know - traditionally, smart/middle-to-high class people pick between medicine, law, and finance, with law school being the default. Then many of these people realize they don't like practicing law so they transition into something else.
That’s reasonable. I think law’s especially well suited to that, too, because the lawyer job market is in tatters compared to medicine right now (no idea about finance.) The comparative advantage of using the degree to complement another field can be worth more than actually practicing.
An alternative hypothesis based on people I know - traditionally, smart/middle-to-high class people pick between medicine, law, and finance, with law school being the default. Then many of these people realize they don't like practicing law so they transition into something else.