It doesn’t, because “venture capital backed hyper growth startup” isn’t a business model, it’s a pyramid scheme. The survival of the business after IPO is irrelevant.
Increase value for the shareholders taken to it's logical extreme. Just gotta increase the perceived value to the potential bagholders so the current bagholders can wipe themselves clean.
Maybe for the investors who (intend to) sell all of their stock in the IPO, but surely a founder/CEO has both emotional and financial reasons to ensure the continued survival of the company?