It doesn't. Lot's of tech companies over-hired, over-invested both in 1999 and 2021. Can companies be conservative? Yes, but people were also predicting a tech

It doesn't. Lot's of tech companies over-hired, over-invested both in 1999 and 2021. Can companies be conservative? Yes, but people were also predicting a tech crash in 2010, 2011, 2012....