I think they are talking about in THIS environment, not in general. Many "leaders" have stated that their business is growing, they have good cash reserves, bu

I think they are talking about in THIS environment, not in general. Many "leaders" have stated that their business is growing, they have good cash reserves, but they felt they had to cut now. This isn't a downturn or a crisis, and it's not demand changing. If we were in the 2nd or 3rd quarter of a recession, and everyone was bleeding, I think your statement makes sense. But if they have to lay off 10%+ of their workforce because they can't raise another multi-million dollar round, what does that say about their long-term business plan?