The private sector has plenty of places to put PhD level people with technical skills, it's just in roles that in which their expertise tends to be directed tow

The private sector has plenty of places to put PhD level people with technical skills, it's just in roles that in which their expertise tends to be directed toward more risk-averse ventures and their skills tend to be underutilized. The number of physics PhDs I see in low-level software development roles sometimes scares me.