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Based on what evidence do you suggest that they hired people with "no logical thinking". You are part of the problem. I'm sick and tired of engineers being ultra skeptical about the skills of other engineers. It leads to constant peacocking.

In the teach world, if you didn't blog about it you don't know it.

I don't think that's a fair assessment. The root reason is a lot of tech companies believed that the growth in users from the pandemic would be more sustainable ("buying the dip", as it were): after all heads you win, tails you have to lay off 17,000 people. This is, of course, the tails side of this.

Looks like they understood it and operated exactly according to supply and demand.

If the Feds did not raise interest, I doubt any of this would have happened, inflation might cross 10% though.