Distorting the economy is a real issue and should be talked about.

There is way too much front-loading of hiring strategies and infrastructure that happens on future (over-)promised capabilities, TAM and profitability projections.

If we are lucky it fizzles out into reasonable valuations and sound investments. If not we have had a giant misallocation of capital on an unprecedented scale setting us back by many many years, a diamond shaped work force in some sectors causing labour shortages and reduced growth in the long run.