Your not taking into account the time value of money. You always want to expense sooner. Additionally, having to wait 4 additional years to deduct that 80% is

Your not taking into account the time value of money. You always want to expense sooner. Additionally, having to wait 4 additional years to deduct that 80% is a huge drain on capital. Combine this with higher interest rates and the effect is essentially pouring sand into the gears of the tech industry.