> What firms are going to do now is probe deeper and disinvest in crappy projects that most likely generated negative returns

We've been doing this since 2022. Most layoffs overlap with Sales, Engineering, and Ops associated with cost centers.

Like, there was no reason Uber had 3 internally competing and built chat apps with dozens of engineers allocated as headcount.

> much of the cash flows are coming from investments made yonks ago

Not necessarily, but you can't train an old dog to do new tricks.