I know there is a quote (maybe Paul Graham?) about the sign of dotcom-era startups failing being when they bought Aeron chairs for the office. But to me, there'

I know there is a quote (maybe Paul Graham?) about the sign of dotcom-era startups failing being when they bought Aeron chairs for the office. But to me, there's a big difference between putting money theoretically into the company's work environment, branding, physical presence, etc. even if a bit extravagant, and blowing through 10% of revenue on bacchanalian pursuits that don't leave you with anything of value whatsoever a week later. This raises serious concerns about whether the CEO is actually upholding their duty to shareholders. Someone else should have been involved in planning for something that expensive anyway.