If we put ourselves back into the shoes of 2019-2020 there were people who were talking about a post-capital world because money was so cheap.
I'm not defending all the companies that hired quickly - but if you all recall it did seem like the world had changed significantly with way more use of technology. I believe the underlying bet was once everyone uses these tools people will inevitably keep using them. Coupled that with cheap money (for the past decade) and incredibly fast growth and no-one thinking that the rates were going to go up at least not in the near future.
I find it hard to act so certain and so clearsighted that companies were acting in bad faith as you seem to point to.
I'm not defending all the companies that hired quickly - but if you all recall it did seem like the world had changed significantly with way more use of technology. I believe the underlying bet was once everyone uses these tools people will inevitably keep using them. Coupled that with cheap money (for the past decade) and incredibly fast growth and no-one thinking that the rates were going to go up at least not in the near future.
I find it hard to act so certain and so clearsighted that companies were acting in bad faith as you seem to point to.