This sounds very much like my experience with a dot-com flameout in 1999. Massive spending of VC investment money on offices, a sales team, engineers, and a da

This sounds very much like my experience with a dot-com flameout in 1999. Massive spending of VC investment money on offices, a sales team, engineers, and a data center and servers to meet their expected (hoped-for) scale (there was no cloud then). No large clients on the platform. Not a lot of small clients either, TBH. One day out of the blue over half the company was let go. Some effort to downsize and retool, but it seemed perfunctory. All the rest of the staff was let go after another couple of months. If you have no customers, you have no business.