Earlier quoted context omitted.
You can object to it if you want, but it's a well known phenomena - starting to build buildings is often a bad sign for the company's long-term future prospects. And since we're talking about companies peaking, the size of the company isn't particularly relevant. It is, of course, not a universal law, but lavish new office spaces are one of those things that don't seem to go well.
> it's a well known phenomena Do you have any data to back it up or did you just made it up?
Or from a16z:
"Pouring huge money into overly glorious new headquarters — “The Edifice Complex” — then repeating two years later. There’s also a danger in signaling to employees “we’ve made it, we’re amazing” (and while everyone hates the cramped but collaborative space when they’re in it, they miss it terribly after the move)."