I think FAANG has too much money, so they try to solve all problems with money, which could otherwise be solved with better planning, allocating more time, chan

I think FAANG has too much money, so they try to solve all problems with money, which could otherwise be solved with better planning, allocating more time, changing the mindset and/or better understanding the problem at hand. That might explain why they pay hire salaries than the rest of the industry. I don't think that there is necessarily a causal relationship between the salaries and the competence, but that line of thinking is common in those companies.