Gary Griggs, director of the Institute of Marine Sciences and Long Marine Laboratory at UC Santa Cruz, wrote a nice piece for the Santa Cruz Sentinel on the history and current status of California's commercial fisheries. Squid, of course, play a starring role:

In 2010, California's biggest catch by far was market squid, coming in at over 144,000 tons, or 66 percent of the state's entire commercial catch. This is eight pounds of squid for every person in California. . . . 
Squid are attracted to the surface at night using very bright lights, where they are caught in nets. They only live for a year and are terminal spawners, meaning when they spawn, they die. Life is quite brief for your typical squid.

It's actually even briefer than that! For a long time, the "common knowledge" was that California market squid were annuals, but now research suggests they are actually semiannual, living only six months. That means the population, as a whole, has two spawning peaks every year.

Doryteuthis opalescens really takes the "live fast, die young," adage to heart.