[kevin_nisbet]

Layoffs may not be applied equally though. When you get into big company spaces, they tend to be closer to an amalgamation of a bunch of smaller companies / empires. So layoffs may target business units that are not performing as well as the average, or the bet isn't working out. On the flip side though, there might be other units that require very different skills and experience that the investment in is getting doubled down.

And for raising debt, a factor is it's usually much easier and cheaper to raise debt when you don't need to. This one applies to startups as well, you're in pretty bad shape if you're low on money and need to raise capital. So if the conditions are right, it's worth it to raise now if the conditions are right, even if you're not going to start torching it for a couple of years.