This is no different to other tech companies and startups that have over hired during the low interest hype and have aggressively raised money. It is essentially the VC hype cycle and are meant to dump their holdings on retail once the stock is publicly listed.

We're all just see how tech startups and other companies are getting slaughtered over market conditions and NOW need to cut costs, spend less, hire less and turn a profit rather than continued losses.

The era of "Lose money for decades just like Amazon did and so can we" is over.