The pendulum swings.

Right now, layoffs are cool. It boosts earnings. And the current sentiment is that new ideas and projects are risky unless they involve shoving the square-shaped-AI into the circle-shaped-hole.

The thing that bothers me the most is that the people making these decisions are "winning" regardless of the outcomes. I can't remember a time where the industry was so overtly like this (i.e., the outcomes don't really matter). Perhaps the dotcom-era but I wasn't working in tech yet.