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> CEOs are actually smart, rational people who can think 2-3 steps ahead

the same CEOs that decided to over hire during the pandemic and then started to layoff people when money stopped going in?

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I don't see what's irrational about that. Money is cheap and sloshing around, demand is through the roof, party can go on for a long time... hiring more people to grow your business seems to be the right move there.

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