It's different business leaders. The ones who expect their companies to survive are tightening their belts now, to give themselves the runway to survive. The

It's different business leaders. The ones who expect their companies to survive are tightening their belts now, to give themselves the runway to survive. The ones that understand that their companies are dead anyway if borrowing costs skyrocket are spending like they won't skyrocket, because otherwise it doesn't matter. The former group is preparing to lose the latter group as customers. You see this in the media too - some business leaders (often in tech, or finance) are predicting doom and gloom, while others (like in retail or experiences) are saying that it's business as usual and they haven't seen a downturn yet.