Who in the world didn't foresee the market cooling dramatically as the pandemic "ended"? I remember interviewing at real estate start ups during the pandemic h

Who in the world didn't foresee the market cooling dramatically as the pandemic "ended"? I remember interviewing at real estate start ups during the pandemic hiring like crazy, as if this wasn't obviously a temporary boom period. The problem is that the vast majority of startups suffer from a Markov memory problem where they can't fathom a world different from their current state no matter how absurd that view is to anyone with common sense.