It’s better for startup investors if it goes big or fails sooner. That’s the entire purpose of investing 100’s of millions into these companies.

If the CEO has no idea how to do that they should shut down the company or stand aside and find a better CEO, not try and milk as much money from they can by keeping the company shambling along as long as possible.

Did I suggest that? I'm pointing out the blaring hypocrisy of a company sitting on $350M in cash that opted to double the size of their company without having a clear strategy to become profitable. Then after laying off half the company, the CEO publicly states it's because the laid off workers don't have the skills they need for "the new era". I would really like to see in these scenarios the CEO accept a tiny bit of responsibility for their failures to set strategy and over hire, instead of publicly shaming 70 people they chose to hire in the first place. That's a failure in leadership, not in employees.