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> I don't think I've met anyone who was suffering from under-hiring,

I've definitely run into this a handful of times, mostly due to runway concerns and "keeping options open".

What were the clear symptoms of under-hiring?

I think I've only worked at companies that under-hired. At small start-ups it that they were worried about runway and so made everyone wear many hats and overwork / crunch on things. At large orgs its just difficult to hire and very competitive, so you always have a hard time hitting your goals even though the roles are very much needed.

I can't think of one org I've ever worked at that hit a sweet spot where you were able to hire exactly as many engineers as you needed while keeping up with growth and attrition.

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