When there's a technological inflection point, there is a tremendous market share opportunity, so hire like crazy to win the market and then once it's solidifie

When there's a technological inflection point, there is a tremendous market share opportunity, so hire like crazy to win the market and then once it's solidified, either look for new markets or cut costs. All these VCs are desperately searching for these inflection points (metaverse! Web3! GPT models!) for that reason. These companies all hired like crazy because they thought COVID might have been a cultural inflection point, and when it turned out not to be, they cut costs.