What is your solution to or thoughts on the Fermi paradox?

The Fermi paradox goes something like this:

The apparent size and age of the universe suggest that many technologically advanced extraterrestrial civilizations ought to exist. However, this hypothesis seems inconsistent with the lack of observational evidence to support it.

Indeed, why is there no known evidence extraterrestrials exist now or in the past?

My best guess is due to the great distances even within our own galaxy, let alone the whole universe, it is too difficult to communicate with extraterrestrials. There’s also the problem of finding a means to communicate with a species that may be so utterly foreign to us that we may not recognize it as life.