A lot of people that work at these companies totally buy the koolaid. Many of them have no direct access to the underlying fundamentals, if they see anything od

A lot of people that work at these companies totally buy the koolaid. Many of them have no direct access to the underlying fundamentals, if they see anything odd at all, it's easy to write it off with 'Adam knows best'. Many of these folks would never have a chance to work at a regular high-end startup so it was a real 'chance of a lifetime' for them. And then 'non believers' probably just didn't feel the need to speak up - the business was growing after all, and by most outside measures it seemed legit. Most folks would not be able to evaluate the quality of acquisitions anyhow - and frankly, many respected CEOs make really bad purchases all the time.