An interesting argument I’ve had recently is if there is a downturn, would you buy stocks in the ipos that are over employed on the ipo or rightly employed? You

An interesting argument I’ve had recently is if there is a downturn, would you buy stocks in the ipos that are over employed on the ipo or rightly employed? You look at Adyen for instance, and it doesn’t seem like there would be many people to cut fat from versus some other companies that seem to have a ridiculous amount of employees for where revenue is at pre ipo.