> Focus business People simply have different incentives during booming years. Companies want growth in marketshare, so they throw initiatives on the wall to s

> Focus business People simply have different incentives during booming years. Companies want growth in marketshare, so they throw initiatives on the wall to see which ones stick. So, more hiring. Managers want more scope, and size of their teams is a good indicator. So, they hire more. Of course, I don't doubt their motives. They may genuinely believe the causes of their teams and diligently come up with initiatives. It's just that their initiatives may not get the same level of scrutiny when almost-free investment dries up. Again, more hiring.