> If the future does not come to pass and you acted on it, you have to lay-off 10% of your workforce. If the future does come to pass and you didn’t act on it,

> If the future does not come to pass and you acted on it, you have to lay-off 10% of your workforce. If the future does come to pass and you didn’t act on it, other companies that did act on it eat your lunch and you may end up with many more people losing jobs than just 10%. These hypotheticals are way too favorable towards all of the non-Apple tech companies that gorged themselves during the irrational exuberance of the past two years. Since when was Google or Meta in danger of being outcompeted by a rival company who overhired to eat their lunch, rather than by their own mistakes? Were all of these overhired personnel really being put on vital projects necessary for the survival of these companies? Perhaps some companies this analysis held true. But in most cases it seems just like a reactionary keeping up with the Joneses overhiring spree. Companies saw others doing it, and they imitated, not out of some sound financial policy.