2018-2022 was also when interest rates were at historical lows so companies were placing 'big bets' with less-but-not-negligible risks. Same was true for hiring too - remote work + lots of liquidity meant a massive hiring spree that we're now, with our 5x higher interest rates, very much in the comedown for (and which many leaders pin on 'AI-assisted work' and not on their really rash and stupid bets not panning out).