Not the way of the world, but the way of the world in a zero interest rate environment.
Every tech company hires aggressively in a low interest rate environment for two reasons.
1. Money is cheap
2. Bonds return negative yields so all the money flows into risk assets that grow aggressively. Profits don't matter in this environment.
Those that weren't in the workforce prior to 2008 will now learn the importance of profit as interest rates rise to rates we haven't seen in decades.
Every tech company hires aggressively in a low interest rate environment for two reasons.
1. Money is cheap 2. Bonds return negative yields so all the money flows into risk assets that grow aggressively. Profits don't matter in this environment.
Those that weren't in the workforce prior to 2008 will now learn the importance of profit as interest rates rise to rates we haven't seen in decades.