Microsoft overhired like crazy in 2021 and 2022, many of which they had to fire later.

This is a bad allocation of funds, but presumably this was done because of the off chance that the market would keep growing and the work for these people would follow.

When you do high-risk things with the express purpose of short-term gains, that's basically just gambling.

Ah. I’d add he’s “gambling with other people’s money”, which is the most colloquially-accepted form of gambling.