Not how it works from a financial analysis point of view. When interest rates rise money further down the line is rapidly devalued and cash flows in the near future are reprioritized. And firing people today and taking small layoff costs is much more accretive to the bottom line than growth down the line.

Also: Seems like the whole of VC is now on the FCF/Opex control train.

Pretty simple.

You plan on x growth happening, so you hire assuming x will happen.

Say x/2 happens. You now overhired. Even if x is still pretty good.

Corporations have fiduciary duty to the their investors, not their employees.