People have lost their sense of duty and responsibility to act civilized. Example: You have a meeting at 11:00. You wake up at 10:59 and don't want to turn your camera on or turn it on while lying on your bed. Don't prepare well for the meeting, didn't check, i.e., the scrum board, don't remember what you did yesterday, etc... I've been hiring developers since 2005. I still work as a developer. I played different roles as CTO, Product Manager, Team manager, etc... It's getting hard to get developers under 30 that can act as an adult. You cannot write everything in the contract, even though responsibility, organization skills, etc., are requirements for every job, and it is, in one way or another, written down in the contract that we all sign when accepting a job.
In a vacuum, a company's profits should only be used by that company to expand / pursue other ventures if that company is uniquely in a position to make the best use of it. Otherwise, shareholders would prefer that dividends be paid out, and the shareholders can choose where to invest it.
But dividends are taxed, and a company utilizing those profits to expand / pursue other ventures is not. Especially in the tech sector, this means you're essentially leaving money on the table by paying dividends. For shareholders to be able to invest better, they'd need to overcome the taxes they'd pay on receiving those dividends as income, which is very difficult.
This allows for a lot of waste in spending that would otherwise not exist. Even if all of those failed ventures and meaningless middle managers reduce the return on that investment by 25% or more, it's still saving money over just paying dividends to shareholders and staying lean.
If billions are raining from the sky, you can hire armies of people. Every manager wants to expand their "empire", and there is money to hire people, so in the end a lot of people get hired.