Lots of over-hiring. It was a competition for scarce talent with a thinking that talented head count is a prime metric. I think it is, but it only works if that

Lots of over-hiring. It was a competition for scarce talent with a thinking that talented head count is a prime metric. I think it is, but it only works if that talent is contributing to the bottom line. Poor HR management plays a big role too. I believe that capitalism requires ongoing "culling of the herd" - like 5% every year. This happens in many other businesses. Perhaps tech will now follow suit.