Most companies mobilize their excess reserves. There is no point in holding cash doing nothing. But I don't think many companies come close to the 30% figure of

Most companies mobilize their excess reserves. There is no point in holding cash doing nothing. But I don't think many companies come close to the 30% figure of Airbnb. And hence the question - what happens when markets start go down? If they keep pumping money to the hedge fund they might have a contagion risk on their hands like, as pointed out by paganel in this thread, GE Capital almost taking down GE.