Interest rates rose above 0% for the first time in a decade and suddenly profit became more important than growth.

Edit: actually I’m wrong and it’s more complicated than that, but in essence the era of free money came to an end. Interest rates were increasing before 2020 in very gradual increments, but then went to zero, also accompanied by a lot of money being injected into the system.

https://www.macrotrends.net/2015/fed-funds-rate-historical-chart

So the sudden change at the end of the chart is what caused the regime change driving the trend of growth-driven companies trying to generate a profit - many not having a clue how to do it because they’ve never done it before.