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But then what about the fact that it's exposing so many firms to immense risk and essentially straight-up lying to investors as well as product adopters? No one thought of that reality, when the chickens finally come home to roost?

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My read is that it's a mix of tech firms having overhired a lot during the ZIRP+COVID era, as well as executives having a pretty short horizon for risk if the potential bonus is large enough.

> executives having a pretty short horizon for risk if the potential bonus is large enough.

This single line explains succinctly what is probably responsible for most of the economic dysfunction of the past 20 years

There's an easy fix, you start hiring again. Probably don't even have to explain it, what happened just before was that you improved corporate finances by lowering your labour expenses, i.e. you're clearly growing and hence you need more people.

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