> This whole "let's over hire while the VC money is flowing and mass lay off as soon as it's not" thing will make talent think twice before applying to your company, and will make your existing talent eager to look elsewhere for more a more secure role.

It really won’t though. People have short term memories and ego. Also, the next hiring round will most likely be from a fresh crop of graduates that will zero collective memory of what happened since they were still in school.