In hindsight "Stanford business professor says these things just happen and nobody is to blame" should have been an obvious red flag.
Edit: I think this should be elevated to a general rule. Any economist or "professor of business" describing things in animal-behavior terms - instinct, herd, whatever - is prima-facie evidence a group of very rich people were up to some nefarious shit behind the scenes six months earlier.
@mhoye I mean, what the Stanford professor said about lay-offs being a really bad idea that usually harms both the company and the laid off employees is still true
Everything he said about why it happened is bullshit, of course. Unless you mentally substitute "social contagion" with "greed-inspired idiocy" or something 🙂
(This is a recurring phenomenon in biz/economics studies. They can often demonstrate specific negative outcomes, but almost never positive outcomes or ultimate causes)