What types of companies do you have in mind? I've gotten the impression that some startups hire a bit many people (to impress investors, and friends/peers?), o

What types of companies do you have in mind? I've gotten the impression that some startups hire a bit many people (to impress investors, and friends/peers?), otherwise I haven't heard about that. I'd thought shareholders of public companies, though, care more about revenue and mostly don't know how many employees each company has? (And that primarily middle managers are doing the over-hiring?) If you have a link where I can read more :-)