Have a compelling product that generates profit. Any product is compelling when subsidized heavily enough by VCs.

VC money is there until it isn’t. See the YC message from last week.

Packaged dreams and hopes as a product ceases to be investible with high interest rate / high inflation.

I think you mean profit, not revenue. In terms of surviving difficult economics, revenue is useless if not accompanied by profit. Cutting 33% of their workforce will at least temporarily stop an awful lot of bleeding. Long term effect, probably not good. If losing 33% doesn't hurt them long term, then they have been doing some incredibly bad hiring. They might make it to the other side of this and I know nothing about their specific situation, but judging from the history of other failures, this is sadly often the first step in a death spiral.